Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (41530)	9/29/1999 2:50:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116764

Hi, DD. It has long been my experience that the insiders get the first leg of any Elliott Initial Thrust Move, not the little guys. So, NO, I do NOT expect anything to be affected short, intermediate nor longer term regarding this hike in NYMEX margins. It is just a customary event. The shorters shouldn't be to uncomfortable. All they have to do is to buy it back and cover their losses with their *OBSCENE PROFITS* garnered over the last 19 years on the backs of us goldbugs and miner types. Sure, they'll scream, but let'em. It's high damn time! If you are a hedger, you should only be truly hedging what you actually are going to either produce (long hedge) or fabricate (short hedge) This hasn't been a hedger game for about 9 years at least. So, most of them have forgotten to keep cash reserves to cover a screwed up hedge. Do you remember the phrase in that Reuters PR earlier posted this week that some forgot to hedge their speculation by doing offsets in other markets? Well, listen to me cry in my beir <--- NOT MISPELLED--it is one of my famous puns> for those schmucks! No, my money is NOT on forward sales decreasing significantly. In fact, if they are truly CASH-FORWARD SALES, I would expect them to increase to lock in these better prices as things get sorted out. If you are talking forward sales/short wise...ditto there also, but just as a precautionary measure. Hell, my friend, YOU sat on the books of some major mining producers. Why don't YOU enlighten the thread as to how much production is normally "hedged" and "reserved" for in percentage terms that a mining companies CEO can sell the BOD on. It's damn piddly, percentage-wise, in my experience, because mining companies as a whole, don't LIKE to hedge in the first place. Their whole gig is taking risk from the first dynamite blast to the last dribbled ounce overflowing on the firing room floor. What the hell is a few short-term losses due to initial margin call hikes to them in the overall scheme of things??? It's just written off against the bottom line, already swollen by the lease game, ala Barrick model, anyhow. And all that is left at the moment are those mining companies who should know better and play better. The rest of them are shut in until the price improves. Than goodness for some of those give-ups...sure made acquisition/negotiation on my part a whole lot easier pre-8/31<VVVBG> O/49r