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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (176386)6/29/2002 9:00:05 AM
From: posthumousone  Read Replies (2) of 436258
 
Does this theory sound pluasible for POG drop?

I would say today was the big hedged miners dumping at the close. Why? Because the price at the close of the quarter is what is used to come up with the mark-to-market gain/loss of their hedge books. With the POG at $314, a company like ABX will show a mark-to-market loss of several hundred million dollars. If the POG was at $320, the loss would be about $130 million higher. With PDG, a $6 POG swing would mean about $70 to $80 million difference in the hedge book. Remember it at the end of next quarter
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