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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Rolla Coasta who wrote (38786)	8/16/2008 7:31:04 PM
From: TobagoJack	Read Replies (1) \| Respond to of 218007

as i had mentioned, my e-mail thread is in process of some bare knuckles to and fro. just in in-tray "I think it's silly to argue about markets vindicating trading strategies on a day-day basis. I've been at this for 25+ years and sadly the game has changed.A bunch of assholes have raised several billion and with leverage have totally screwed the day-day information the markets used to impart. Safe to say a lot of momentum trades got crowded due to misguided Fed policies earlier in this decade,and gold as well as other asset classes got temporarily over-owned. I'm in NYC now and have spent the last week meeting people I didn't know when I was in my heyday as a major arb player and board member of a first tier investment bank. Impressed with some,disappointed with many. Main takeaway is it's all changed.Lots of people holding leveraged positions with little investment conviction,gold included.My take is that short-term determinism dominates the scene,and leverage aggravates the results. Temporary breaks lower in industrial commodities seem right to me,and a short-covering rally in a structurally weak usd as the c/a improves provides a great opportunity to exit the currency. At the end of the day,authorities will continue to bail out the GSEs and other financial institutions while gold will not await the decisions of any monetary policy board,distinguished by a high and rising cost of production and the sole beneficiary of inevitable global competitive devaluations in fiat currencies everywhere." if so, and the writer has 1.5 big ones to his name, and that makes it so to me, then sell usd and buy gold. we are blessed.