Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pezz who wrote (30833)	4/7/2003 6:44:40 AM
From: TobagoJack	Read Replies (2) of 74559

Hello Pezz, Dusk Report: After reading news, taking pulse of the gold ticker, munching on some cheese and crackers, and pondering the crowd psychology, I have decided to concede defeat (making a tactical adjustment to attitude), but only temporarily (maybe only for a day), and beating a disorganized retreat (executing a deliberate advance in the other direction). I sold off all of my paper gold, leaving only the heavy physical hedge (6.5% of gross asset), the long mining positions (slightly north of 5%), and the put/call straddles (am not sure) in place to make last stand should TeoTwawKi makes appearance out of the thundering blue. NAV is now down 0.14% on the year. I am lightening up on the paper gold position so as to gather courage to short more mining puts, and/or organize more long/put/call straddle asymmetric resistance. Chugs, Jay

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