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

To: terry richardson who wrote (28057)	2/14/2003 3:31:32 PM
From: terry richardson	Read Replies (1) \| Respond to of 36161

From: The Daily Reckoning ........- Yesterday, a wave of selling blasted $10 off the gold price, taking the precious metal down to $353 an ounce - more than $30 below the levels it reached last week. Rumors swirled throughout the gold market trying to explain the seemingly inexplicable sell-off. One rumor, passed along to your co-editor via email, theorized, "Barrick and JP Morgan are facing large losses in gold derivatives and the NYMEX, as directed by the Fed, is rumored to be announcing soon another margin requirement increase to HALF the value of a gold contract, or about $17,000 from the current $2,000, as a direct effort to get the gold price down, to help bail out Morgan in particular." - We don't put much credence in such rumors, but we do find them entertaining. Our personal theory is that prices sometimes rise and sometimes fall...Yesterday, they fell.....