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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (57171)	12/12/2004 10:57:19 PM
From: LLCF	Read Replies (1) \| Respond to of 74559

BTW... Gold HAS rallied 200 points off the low despite GATA and gang claiming all this manipulation??? I'm starting to think what they were/are seeing is simply producers selling options/hedges to I-banks [who no doubt take advantage of them] who go out and borrow gold from CB's and sell it into the market to hedge the options position. I keep hearing about all the massive gold shorts that can't possibly get covered, yet after 200 points on the metal I see no defaults [excpet by dopey producers who sold the hedges] among the 'bad guys'? Yet I think we all know that all their "short" gold positions are marked to market no? Now, don't get me wrong... I don't know. But as an ex-derivatives trader if I suggested borrowing gold and selling it and investing the proceeds to collect interest without a hedge on the short position to my oversight committee, I would have been fired immediately. NFG DAK