To: patron_anejo_por_favor who wrote (159590 ) 10/23/2008 10:42:18 PM From: James Hutton Read Replies (3) | Respond to Selling in gold and gold shares just merciless. NGD had a great report, but who gives a sh*t. The hedgies are selling shares and soon they'll even be trying to sell the 386 computers that were in the closet when they moved into their rented space. Look at the SA golds. The rand is getting crushed and their costs will go down accordingly, but who cares. Sell 'em down to 1/2 of book. It has to stop sooner or later, but I'm sitting back and holding my GLD, SLV, GORO, and GFI (this will go soon, to be replaced by another SA producer not to be DRD). Will probably add some SLW one of these days. But I don't think there's any hurry. I thought the inflation trade would begin with all of the liquidity, but I think it's too early. From what I can tell/hear, a lot of hedges unwinding and the proceeds are going into dollars. Another thought - a 50% retracement of the 2001/2 - 2008 gold run would go to about $640, so that's as good a number as any.
