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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Dymond who wrote (29196)12/12/1997 1:03:00 AM
From: Bruce McGaughey  Respond to of 35569
 
Bruce, my friend is thinking of buying some puts on the XAU (a little late if you ask me). Any thoughts??

Arch Crawford is long gold from 281.00.
Chart looks like a reverse head and shoulders....possibly.
I don't see how we can go down any further but then who's to say
some other central bank won't sell.
The European countries have to get their books squared up
in order to join the EU. Some of the only real assets these
countries own is gold.
It's your call but I think I'd be long silver now and keeping
my eye on gold.



To: Michael Dymond who wrote (29196)12/12/1997 1:18:00 PM
From: Theo  Respond to of 35569
 
<<<buying some puts on the XAU Any thoughts??>>> Smartest thing to do if there is a lot of gold in the pf. If gold goes down, your covered. If gold goes up, your covered. Insurance comes at a premium. If a trend starts from here, start dumping a little of the losers, whether it be stocks or puts.
Theo


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