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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (4602)	12/3/2008 9:29:03 AM
From: Kevin Podsiadlik	Read Replies (1) \| Respond to of 6370

What is wrong with this picture? Haven't metals, especially gold, been pitched endlessly to us as a natural hedge against bad economic times? And yet when metal prices tumble, what are we told? It's due to the bad economy. How is it that miners are going broke with gold around $800/oz? Yes, FCX is more a copper company than gold and copper is totally in the toilet right now, but you'd think that the gold part would at least be useful as a fallback. And how in the world is Yamana not coining money right now? And what cheeses me is that even today we get pitches like this one declaring that gold and silver will yet lead us to the promised land. Are you looking at the same market I'm looking at, Mr. Wiegand?

To: Dale Baker who wrote (4602)	12/10/2008 5:02:37 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

The market disregards bad news these days. On cold days, RTP warms my heart, it took $83, significantly up again. I promise..,. I sell it at 100 or so, maybe more, if reflation efforts succeed. ------------------------------------------------------------ Rio Tinto to cut 14,000 jobs to cope with slump Wednesday December 10, 4:47 am ET By Tanalee Smith, Associated Press Writer Miner Rio Tinto will cut 14,000 jobs, investment to reduce debt and cope with slowdown SYDNEY, Australia (AP) -- Rio Tinto Group will cut 14,000 jobs worldwide and reduce capital investment as part of new measures to reduce its debt amid waning demand for iron ore and other metals, the mining company said Wednesday. The job cuts -- accounting for 12.5 percent of the company's 112,000-person work force -- and reduction in operating expenditure are expected to save at least 2.5 billion Australian dollars ($1.6 billion) a year by 2010, the London-based company said in a statement.