Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: Cameron who wrote (21879)	9/28/1999 4:00:00 PM
From: Vitalsigns	Read Replies (3) of 62347

Heres what I think happened today. The hedge funds and institutions borrowed gold and sold it short . They used the cash raised to buy stocks and bonds. The gold auction by the brits sparked a short covering rally causing Gold to hit $328 today. At the same time that gold made a high , the dow hit a 10087 low. In order to raise cash ,they would of had to sell stocks and bonds to cover their short sales ,once the short covering stopped, Gold retraced within minutes to 307 and the Dow started to recover almost all its previous decline for the day. Interesting isn't it?

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