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Gold/Mining/Energy : Gold Price Monitor
GDXJ 109.23+3.7%Nov 28 4:00 PM EST
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To: Alex who wrote (30858)3/30/1999 1:22:00 AM
From: Zardoz  Read Replies (3) of 116781
 
"Asked if he would consider hedging strategies that leave the upside open, such as put options, which preserve the upside potential, Cambre said, ''We obviously look at those strategies from time to time. But given where the price of gold is right now, that doesn't look like an attractive strategy at this point.''"

That would suggest to me that they believe that there is still much more risk on the downside, then upside. Unwillingness to take on a put option suggests the pressure is still there. Not a bullish comment.
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