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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 411.93

-0.4%

Dec 24 4:00 PM EST

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To: TheBusDriver who wrote (14795)	9/9/2008 9:19:45 PM
From: Mike M2	1 Recommendation Read Replies (2) of 29622

Wayne, I agree with ecrire. I don't have proof to offer but the steep rate of decline in price action suggests to me that there is forced liquidation occurring. There is a saying selling begets selling. The long commodities/ short US$ was a crowded trade - when everyone is on board who is left to perpetuate the trend? The leverage used by some hedge funds creates the conditions for panic selling. The dramatic sell off last Aug. 16, 2007 was another panic sell off but this one is longer in duration and I would guess has done more damage to funds. Lets not forget stop losses getting hit and disciplined traders who sell when a position goes down a certain %. Some weeks ago Dennis Gartman appeared on CNBC's show- Fast Money said he was out of gold and commodities - a very good call.

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