Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: gold$10k who wrote (13188)	5/25/2002 8:10:39 AM
From: crustyoldprospector	Read Replies (1) of 36161

Hey VT, good move to build that cash, me thinks. Kind of curious what metals other than gold and silver you are holding. I assume silver is included in your 18% figure. I'd also appreciate hearing your (and anyone else's) opinion on the following. This weekend I'm toying with the idea of going even more heavily on the route of building cash for a pull-back. But, simultaneously I'd hedge against a runaway gold market (see my previous post). The hedge would be buying some as yet undetermined combination of far-out calls on NEM & MDG and a long position on DROOY. The reasoning is based on a hunch that the high-liquidity US issues like DROOY and NEM will be the real play in a gold squeeze situation. The event would likely be a flash-in-the-pan, ended by the time the dot com chasers get their Canadian accounts set-up. Even if it didn't end immediately, I'm guessing that any mass panic to get in the narrow gold door will be in those US issues, at least on days one and two. Regards, crusty

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