Daily Dispatches

The Setup?

By Ted Butler
Monday, September 20, 2004
www.InvestmentRarities.com

The market structure, as defined by the Commitment
of Traders Report (COT) for futures positions on the
COMEX, improved dramatically for silver over the past
two reporting weeks. It is rare to get a bullish surprise
in this report, but the amount of technical fund selling
and dealer buying was outstanding. In fact, the current

4:54p ET Saturday, September 17, 2004

Dear Friend of GATA and Gold:

Jim Puplava, proprietor of FinancialSense.com, has
turned his weekly Internet radio roundtable program
over to a discussion of manpulation of the gold market.
His guests are Sprott Asset Management President
John Embry; James Turk, editor of The Free Market
Gold & Money Report and proprietor of GoldMoney.com;
and GATA Chairman Bill Murphy. You can listen to

"Conspiracies rarely exist, and when they do, they are far
more often than not exposed."

-- Dennis Gartman in The Gartman Letter, Tuesday,
September 14, 2004

* * *

24 hours later, another fantastic rarity burst into
view. But of course the authorities always catch them
all. ...

* * *

Infineon to Plead Guilty
in Memory Chip Case

By Peter Kaplan and Daniel Sorid
Reuters

By Theodore Butler
Wednesday, September 15, 2004
www.InvestmentRarities.com

The market structure, as defined this week by the
COTs, continues to explain the short-term movements
in gold and silver. As usual, the recent decline in
prices has been caused by technical hedge fund
liquidation. This should be obvious to everyone,
including the silver miners. The 80-cent selloff in
silver was telegraphed and orchestrated by the