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To: long-gone who wrote (77078)	9/21/2001 11:46:56 AM
From: GST	Respond to of 116752

It is less like investing and more like another kind of war fought with financial instruments and lots of leverage -- I must admit, it is a strange land to travel.

To: long-gone who wrote (77078)	9/21/2001 12:11:36 PM
From: GST	Respond to of 116752

It is interesting to see the role of derivatives on stock prices as well. I have been watching the price movement in NEM today. With a large net "long" position in open interest, somebody out there really seems to want to see a price close to $22.50. Heavy volume. At first I thought it was profit taking and the spike down in the London price -- but it looks like plain old "cover your ass" selling to reduce the cost of the derivative exposure. I will be interested to see if this can keep up into the close.

To: long-gone who wrote (77078)	9/21/2001 12:19:41 PM
From: GST	Read Replies (1) \| Respond to of 116752

The guy who had to make that $2 billion margin call yesterday really made me wonder -- is all that liquidity coming into the market to help the system to to provide safe haven to highly leveraged players -- some people probably think protecting the high rollers IS protecting the financial system. I cannot help but believe that part of the injection of liquidity is to bailout some high rollers who have bee long stocks and short gold -- just my opinion. I just don't see how liquidity will solve their problem -- only postpone the reckoning.