Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (269256)	12/2/2003 12:18:36 PM
From: mishedlo	Respond to of 436258

Look at the same picture from the other angle. Specs are very long. At some point they will want to take profits and stops will be run. The fact that short specs have covered at a loss is also bearish. Of course the specs are the ones who drive the market, but as of now risk/reward is not favorable IMO. I agree with that 100% and that is exactly how I look at it. I cashed out 3/4 of my silver spreads and 2/3 of my gold spreads. Had a gold call and just wrot a higher strike against it today for the same price. That spread I own for free. If the US$ can catch a bid somehow, I think gold can be in for a very sharp pullback. Ammost all of my gold positions are hedged as well as my silver futures. Have covered calls sold against nearly everything and have taken a lot of profits on stuff too. M