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Gold/Mining/Energy : Gold Price Monitor

GDXJ 113.22

-0.5%

Jan 2 4:00 PM EST

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To: d:oug who wrote (38294)	8/4/1999 7:39:00 AM
From: Enigma	Read Replies (1) of 116837

According to Morgy, Hutch is long gold just now - if so he would have more credibility on this thread if he had stated so publicly and not by PM to her alone. As for his position on hedging - in spite of his obvious technical and trading expertise, and I assume he is a successful trader - he doesn't seem to realise what a hedge actually is -at least the simple basic principle of a commodity producer hedging his product. So far as I know the practice of hedging started with American farmers and the principle is the same for commodity producers - you fix the price of your product in advance - take the price variable out of the picture.

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