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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (143546)1/14/2002 9:21:52 AM
From: Tom Smith  Read Replies (1) of 436258
 
Commercials are short:

sharelynx.net

Commercials are both hedgers and nonhedgers, right?

Suspect gold will pull back some here...but to 235? Even in a world where the Fed has guaranteed that 'the only risk is is the one not taken', shorting gold to 235 in the face of a faltering financial system seems obtuse. The dollar would have to climb to 140-150. The economic and political chaos unleashed could set the globe back 50 years. This market is manipulated to the extreme, orders of magnitude higher than I would ever have suspected and probably more than I will ever fathom. Has fibonnaci/elliott wave analysis been predictive in that intense microenvironment? I'm no chartist but I see gold continuing to build a bear flag (compressing) until the dollar rolls over. Given the forces aligned against precious metals....could be some time. The "news" is of a recovery (statistically manufactured?) this summer; well, maybe in the financials but everyone else will be buggered. Wall Street is in firm control of US economic policy but the fickle gods they worship, Hubris and Avarice, will have exacting revenge.....IMHO. Maybe Manger has an opinion. <g>

Now off to work so I can pay off some high interest credit card debt.....
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