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Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Condor who wrote (86852)	7/11/2007 10:14:02 AM
From: stan_hughes	Read Replies (1) \| Respond to of 313020

I'd guess it was some borrow Yen / buy Loonie carry trade being unwound on (a) the BoC rate increase news and (b) unrelated but coincident yen strength -- it doesn't take much in the way of international capital flows to temporarily bust the chops of something as small as the loonie market

To: Condor who wrote (86852)	7/11/2007 10:15:47 AM
From: Canuck Dave	Read Replies (2) \| Respond to of 313020

It's all madness at this point. Market was expecting the BOC rate increase, apparently. I thought recent gold weakness was due to hedge funds unloading positions to shore up CDO exposure, or something like a general liquidation. Then I saw the ECB gold sales. All kinds of official sector intervention screwing up markets. You can think yourself to death trying to make sense of it. Then I remembered something Russell said once. "When in doubt, stay out." Sounds good to me. CD