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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (96920)	7/23/2002 3:08:28 PM
From: Tommaso	Respond to of 132070

I think what is happening is a flight to cash, and the most liquid cash is the $US. For the very short term there is nothing safer--not because the $US is intrinsically valuable but because everyone values it as a medium of financial exchange. So gold, like everything else, is being converted to cash, to US dollars. I did catch some FCO at $4.91, which looks OK--just adding to my position. Am actually buying these on margin; with margin interest so low it hardly seems risky to me. My plan is to try to retire the margin debt with profits from puts on the indices and then just hold the FCO for the income. In fact, I have an order in to sell my QQQ puts, which will mostly play off the margin debt. But I am holding out for $300 more than Mr. Market wants to pay just this second.