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Gold/Mining/Energy : Swing Trading Toronto Stock Exchange Listed Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Vitalsigns who wrote (685)	9/16/2001 10:06:32 AM
From: Al Collard	Respond to of 2773

"My suggestion is that next week we keep all trades to the long side only or short cover. Is that appropriate? or unfair ? Comments Please" Vitals, I really think the thread should do business as usual. Long or short it makes the market. There are numerous predictions of doom and gloom on many SI threads, but I'm not convinced. If big American financial institutions step up to the plate and cover their record short positions we could be in for one of the biggest short squeezes in the history of the market. Americans are a resilient race of people. Don't underestimate their resolve. JMHO Remember the herd is usually wrong !!! Regards, Al

To: Vitalsigns who wrote (685)	9/16/2001 10:27:50 AM
From: StockPro	Respond to of 2773

VS, if the SEC takes direct action to restrict or prevent shorting, I suppose I would support such a move on this thread as well. However, I personally would not want to see such restrictions put in place. Everybody seems agreed that the markets are expected to be quite volatile next week. In it's purest form, shorting has always been a moderating factor in reducing such volatility. Shorters move in to buy (cover) when stock prices fall too low too fast, thereby supporting prices. And conversely, when stock prices rise too high too fast, they are there to sell, again having a moderating effect. As for the ethical and moral considerations ... obviously nobody wants to be seen as profiting from the misery and suffering of others. But I can't help but wonder how people would react if the situation was reversed. Think about this hypothetical example ... Instead of destroying the World Trade Center, suppose that the terrorists dropped a nuclear device on Fort Knox (or the Federal Reserve or wherever the largest stockpile of US gold bullion was located). Suppose that, at the same time, they flattened the ten largest oil refineries in the United States. I have to wonder how those who were long gold and energy would react. Would they still be as loath to take profits on LONG positions? Would they voluntarily sell their long positions in gold, oil and gasoline at last Mondays closing prices in order to be seen as 'not profiting' from the destruction? I don't wish to appear as a cold hearted and money hungry individual ... I have shed many a tear watching the horror unfold on my television screen during the last five days, but I say shorting should be allowed to continue. It is a valid vehicle for taking profits from the marketplace and that's what this thread is about.