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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (44717)11/3/2005 2:26:01 PM
From: ild  Read Replies (2) of 110194
 
Date: Thu Nov 03 2005 13:32
trotsky (let's see...) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
the pm stocks don't seem to really believe the downdraft in gold...at least not so far. if this keeps up into the close it'll amount to final confirmation that gold is about to bottom out short term ( the HUI/gold ratio would be rising for the 4th day in a row ) .

re. homebuilders - a 'gap and cr*p' today, all of them faltering at resistance and giving up their earlier gains, so far anyway. my favorite target is LEN...this one has over 50,000 calls open at the November 50 strike, the by far largest open options position in that stock. somehow i don't think the option writers will let the money get pocketed by the call owners ( there's now even an academic study out in support of this contention - vbg- ) .
a guess as to why the earlier rally faltered - bond market weakness.
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