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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (227)	2/19/2004 11:09:22 AM
From: mishedlo	Read Replies (2) \| Respond to of 116555

Prechter is right -- there is unanimity there which indicates that rates will head lower, but I think he doesn't "get gold" or precious metals at all. He has taken the superficial position that precious metals are simply an inflation hedge and therefore they will perform poorly in this environment, i.e. under debt deflation. I dont know but I believe as Heinz does that a deflation scare could send gold lower - at least initially Sold a silver future yesterday from 6.15 at 6.70 and flipped another one today on a bounce to the same place. Sold all the rest of my miners today as well. Was only holding SSRI and CDE as I started scaling out of those yesterday and I sold all my gold miners yesterday except for april GFI calls, now underwater by quite a bit. As far as I am concerned lets see more correction in gold and silver. Mish