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To: 1podstock who wrote (166903)5/20/2002 5:49:26 PM
From: maceng2  Respond to of 436258
 
It sounds like a Leeson type case. A fairly large short play goes wrong, so double up to "correct it". This happens a few times over but then the POG really shoots upwards.

Result... your in the hole $100m. Could happen to anybody.

"Daddy, I'm in a bit of a spot, some plays on the POG have gone a bit astray, I was wondering if you could loan/give me $100m so I can close out my gold short positions, their kinda out of control... It really is ridiculous...gold is WORTHLESS, I should have made bucket loads" -g-