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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (18496)	9/6/2002 11:53:15 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 36161

Frank, From from Bill Fleckenstein's rap tonight on gold: "Away from stocks, it was no surprise that fixed income was hit on the news and the dollar was stronger, though it was a bit of a surprise that gold was firmer. My contacts in the gold market tell me that there was producer buying, even up at these levels, meaning that producers continue to unwind hedges."

To: Frank Pembleton who wrote (18496)	9/8/2002 12:17:53 AM
From: Sharp_End_Of_Drill	Respond to of 36161

Frank, you are right of course that a set piece plan in a highly mobile market is not a good idea. Like Saddam vs. Norman Swartzkopf. My thoughts were really just musings that PMs in the last few months have seemed to rise & fall in tandem with the markets. I'm troubled by the thought that these equities may not be too safe if we see a real market crash. Hence the idea to hedge against that with some shorts in other market sectors. Cash is of course king, and a lot has to be said for keeping a healthy dose on hand to deal with any bargains that emerge. Sharp