Mark123

What's Good About the Metals' Bad News

I think you mean "$987 overnight".... but all good points----


On Feb 19 09:04 AM The Mad Hedge Fund Trader wrote:

> GOLD! GOLD! GOLD! This is the cry being heard worldwide by investors
> in the Great Gold rush of 2009, looking for a generic “short America”
> trade. Where in the past gold seekers used sluices, shovels, and
> jackhammers to extract the glittery stuff in California’s Sierras,
> Alaska’s Klondike, and South Africa’s Rand, today the instrument
> of choice is the mouse. Online traders are unleashing clicks by the
> millions to buy ETF’s, American Eagles, mining shares, and futures
> contracts. With stock traders sitting on their haunches, wondering
> if the Dow will hold 7,000, this is the only thing that is working
> right now. Traders are buying gold more for what it isn’t, than what
> it is. It isn’t made of paper, made in the US, or held in custody
> by Bernie Madoff or Stanford Financial. The yellow metal hit a new
> high for the year of $887 overnight, and the risk of a “melt up”
> is increasing. The Street Tracks Gold Trust ETF (seekingalpha.com/symbo...)
> is now the seventh largest holder of the barbaric relic in the world.
> For the newly aggressive, look at the DB Gold Double Long ETF (seekingalpha.com/symbo...),
> which gives you a 200% long exposure to gold.