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To: patron_anejo_por_favor who wrote (262167)	9/29/2003 3:42:21 PM
From: ild	Read Replies (1) \| Respond to of 436258

Date: Mon Sep 29 2003 14:20 trotsky (rabbit, 12:42) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved 'last chance'?? as good as your gold/silver calls have been, your stock market timing leaves a lot to be desired. if you examine the data closely ( specifically put/call open interest in index and equity options ) a good case can be made that the bull run isn't over yet. otoh, recent underperformance of small caps is a red flag, and there are several others ( e.g. the hedger short position in the big spoo ) . however, conflicting data usually result in range trading. i wouldn't mind if you turned out to be 100% right btw. - i have a boatload of index puts that are in dire need of re-animative action. i just want to point out that imo no clear-cut bear case exists at the moment from a technical/sentiment perspective. it is a much better case than say a month or two ago, but it's not yet one deserving of 'last chance to sell' calls. Date: Mon Sep 29 2003 14:11 trotsky ('regulations for hedge funds') ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved just because Canary Capital was involved in fraud, we shouldn't clamor for even MORE regulations. nota bene, Canary's fraud was caught within the already existing regulatory framework. in what way would a different regulatory scheme have improved upon that? introducing even more regulations only perpetuates and increases the power of the bureaucracy, something we should be extremely careful with. note that most hedge funds only cater to high net worth individuals, who presumably know what they're doing. why the nanny state should move to 'protect' them isn't entirely clear to me. there is a great danger that the introduction of more onerous regulations will only succeed in driving liquidity from the markets. it is almost a given that the 'good intentions' behind yet another move to enlarge the powers of Leviathan will have countless 'unintended' negative consequences.