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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

4:00 PM EST

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To: Enigma who wrote (21336)	10/10/1998 2:48:00 AM
From: waldo	Read Replies (1) of 116791

WAG THE (hedge) HOG! <<The consortium of banks overseeing Long-Term Capital Management took the "unusual" step Friday of denying reports that the financial condition of the hedge fund it rescued from near-bankruptcy has severely deteriorated. >> Isn't that strange..Lehman denied the same thing this week! ---Good move! ...no use panicking anyone to the fact that you may have to sell billions of illiquid securities to cover a few hundred million in margin. And make sure you don't let the other hedge funds know...or the 100 plus million american investors who may have their own margin/tax/mortgage problems. Is it the margin calls exacerbated by redemption's, or the other way around, ? How about the sophisticated small investor (part of Fridays rally?) who gets squeezed out of his small short position by the MM's? Did the MM's start the rumours about Lehman and LTCM? How many billions in mutual funds of forced sell outs take place next week? What can anyone say or do to stem this inevitable carnage? Do you get the feeling that we don't know 1/10th of what is really going on? One thing for sure...this market is going waaaaaaaay lower! W:>(

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