Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Bonnie Bear who wrote (7345)	10/25/1997 2:50:00 PM
From: Mark Nelson	Read Replies (1) of 94695

Thanks again for bringing up info on Rydex Ursa Fund (short the S&P). Got their prospectus yesterday and noticed that they have funds which track Naz 100 (long), S&P 500 (long or short), XAU (long)and the Long Bond (long or short). Plus, no loads. I happen to think gold is a buy here but the XAU is still vulnerable to a broad market selloff. Spot price is below what it costs to get it out of the ground. That won't last for long. I'd go long the XAU if I had more confidence in the market in general. Bill, you said that you closed short positions because of uncertainty over the weekend. What, besides a coup in Iraq, could happen over the weekend that would send the market against a short position? I could see closing long positions but short? Naaa. Onward.... Mark

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