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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Davy Crockett who wrote (6759)	9/12/2002 2:21:41 AM
From: macavity	Read Replies (1) \| Respond to of 33421

I agree AU and ABX are hedgers. I should have picked NEM from my 3. Am I right that NEM is not a hedger? It is in the $HUI and the others are not. As I said I am learning the differences - my 3 tier are AU/ABX/NEM and then KGC/GLG/MDG from what I have seen. But yesterday proved my point. I am in Japan, and tops I watch the first few hours of the market. As a sort-of-freelancer, I may start staying up late, but as I said that is once $AU breaks 330. Unless my data feeds are wrong there were a whole set of 'long-tails' in GLG, HL, BGO, and CDE. These are those NYSE thieves blowing out peoples' sell stops. There are now a whole bunch of EOD swing-traders out-of-pocket because of this. If I had been trading any of these four I would have been stopped out on a low-volume day. This has happened before which is why I focus on HOLDRS and/or large caps. There are just so many thieves out there. A similar thing happened to me on some low volume HOLDRS - UTH and SWH - never again (I hope). As I said, I judge my position size roughly on volatility/average bar size, once you make allowances for this I have found that the bigger the better. Yes you get less % for your oomph, but when you cannot watch things then this is not always a good thing as yesterday - a very low volume day showed. No-one would play those tricks with AU/NEM/ABX. If I was in the time zone, or watching tick-by-tick then I would agree with you. I do not disagree, I just feel that I have to take a different tack I believe it will be a different ball game if $AU>330! Heck AU and ABX might even stop hedging their production and then they may go off to the races. Did you read an article that the World Gold Council (or some one) had hired some big honcho from Calpers to front them. In short they are trying to present themselves as an alternative financial investment. Den of Thieves: stockcharts.com GLG @ 8 - what a bargain!! -macavity