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Politics : Welcome to Slider's Dugout
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To: onginvester who wrote (5467)6/8/2007 12:11:46 PM
From: RonMerks  Read Replies (1) of 50303
 
POG Puke- I'm not so sure we get a continued 'puke'.

Let's see how the day closes. What I think will drive gold lower is Sliders post from a couple weeks ago- about the BOJ raising rates at the July meeting and shaking out the yen carry trade again. The HUI may have bottomed here. But, if the BOJ raises rates and the yen carry trade is shaken out. Then leverage unwinds and the HUI may not find support until 250-280. That's why I saved half my powder.

I think a 10% correction now in the DOW would be better for the puppeteers in the long run. Then they can be pushing it up at full steam for the 2008 elections. If they let the DOW run away unabated into next year- and the correction hit right before the elections, that would be a NIGHTMARE for the puppeteers. I think they WANT a moderate correction here and now.

That's how I see it anyway.
Ron
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