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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

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To: pater tenebrarum who wrote (52080)	5/25/2000 3:04:00 PM
From: Crimson Ghost	Read Replies (2) of 99985

Heinz: Another bombshell from John Hathaway -- The Folly of Hedging: tocqueville.com His essential argument is that the gold industry is liquidating its capital by hedging under $360 an ounce, Plus they are destroying the only thing that can give the shares real value -- the possibilty of a dramatic earnings improvement from a much higher gold price.

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