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Politics : Welcome to Slider's Dugout

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To: bearjones who wrote (6091)	8/20/2007 9:27:16 PM
From: SliderOnTheBlack	of 50466

re: ["This post sounds like you are still bearish on precious metal stocks. Yet Friday you were a big buyer? So what exactly is it?"] I am not bearish on precious metals here... if I was, I wouldn't have bought Friday. What I am is -- "aware." Aware of the fact that there is still a massive amount of money in the yen-carry trade that can still be washed out...and gold stocks could take another hit. (although it appears now, that the BOJ may not cut rates) There is also still a lot of margin and leverage left in gold stocks...and that can still be washed out if the market takes another leg down. That aside, this yen-carry unwind and the inevitable collapse of the gold stocks was literally... one of the most telegraphed and one of the easiest trades of this entire cycle. And here's my bitch... It's one thing for the permabull gold bug newsletter editors and the permabull pundits on kitco, gold-eagle and 321-gold to to have been drunk with success back in May 2006...but, to have failed to get their readers, or clients out and pre-positioned prior to this unwind in the yen-carry is near criminal. It was literally one of the easiet trades of this entire gold cycle. It also may be one of the most profitable. SOTB

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