Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Jim Fleming who wrote (47393)	3/15/2004 11:18:10 PM
From: TobagoJack	Read Replies (3) of 74559

Hi Jim, I have NEM, and shorted Calls strike 42.5, and shorted Puts strikes 40 and 42.5. In other words, I am just treading water and marking time. My guess is NEM is fully valued at 42.5 based on current reserves and prices, although in panic, the market can push NEM value up as it is effectively non-hedged and is most liquid of the gold miners. I believe the much more volatile but non-hedged medium sized mines may prove more rewarding, but I do not hold these shares now, because I am afraid for the entire financial-scape. I am watching S.African miners and the rand. Both are unloved at the moment and ... well, you know ... J

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