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I totally agree. As a money center trader and usually silent member, I enjoyed
the gold posts. I have seen the same type of trade in $/Y lead to maasive
dislocations several times. Gold and its presumed continued downtrend were the
so caled 'arb trade' this year. I trade 95% systematically but I do trade info
and rumors with my brokers and while I am not a gold bug alot of the rumors were
straight on - witness the bonds getting hammered in the face of equity weakness
and the 8X subscribed BOE auction several weeks ago. These 'arb trades' are
about as same as 'risk arb' - HBOC - Republic. Happens all the time. How can a
leveraged fund ignore a 'guaranteed' 20% gain. Anyway, if you don't like the
info delete it - I do it all the time.
Brian
Judith Gledhill / Mark Oliver wrote:
> am sorry steve you are wrong
> i guess you thought that copper with hamaka was not manipulation he joined
> forces with 5 counterparts and totally controlled it for 3-5 years, gold
> come on these banks and hedge funds could only sell with the connivance of
> cheap leasing rates so they could reinvest in treasuries these carry trades
> are an affront
> you might not call it manipulation but the playing field was definately not
> flat
> am very surprised by your dismissal that there was nothing sinister steve i
> traded for 10 years in prop
> if this was fair why did lease rates rocket ,why are there a few banks that
> have dropped a lot of serious money much more than 10 mio usd a piece. like
> all parties these guys got very greedy and thought it would never end and
> the monetary authorties after warning about ltcm last year and under big
> presure on an intra agency and govt level ended the party it was that simple
> -----Original Message-----
> From: swp <swp@xxxxxxxxxx>
> To: Larry Muir <trdoptions@xxxxxxxxxxx>; realtraders@xxxxxxxxxxxx
> <realtraders@xxxxxxxxxxxx>
> Date: Wednesday, September 29, 1999 10:09 PM
> Subject: Re: Gold and Silver Prices Soars - Lease Rates Soaring
>
> >Larry - Enuf already. The stuff from le moronpole is now just them
> >patting themselves on the back for being wrong for a year and correct
> >for two days. The conspiracy stuff is a bunch of cr*p. There is still no
> >proof of that. The great joy in Goldman Sachs' clients losing money is
> >just plain silliness. I have warned on other forums and to my clients
> >that:
> >
> >1) Gold was or had bottomed weeks ago. That was based on charts.
> >Suggested long dated calls back in early August.
> >
> >2) Political pressure to halt sales was huge and something like this
> >would come out.
> >
> >As for manipulation, if huge short selling by overzealous hedge funds is
> >manipulation then it was manipulation, but that is not my definition of
> >manipulation. The B-S regarding Hillary Clinton, Goldman, the Bank of
> >England, is just that. B-S.
> >
> >Gold has broken higher. Now you are sending out news reports that are a
> >day old. Enuf.
> >
> >Yes, some of it was trading oriented, but most of it was these guys' own
> >axes to grind and talking their book me thinks.
> >
> >Not saying not to send stuff anymore, but this is getting to be too
> >much.
> >
> >Steve Poser
> >
> >---
> >Steven W. Poser, President
> >Poser Global Market Strategies Inc.
> >
> >url: http://www.poserglobal.com
> >email: swp@xxxxxxxxxxxxxxx
> >
> >Tel: 201-995-0845
> >Fax: 201-995-0846
> >----- Original Message -----
> >From: Larry Muir <trdoptions@xxxxxxxxxxx>
> >To: <realtraders@xxxxxxxxxxxx>
> >Sent: Wednesday, September 29, 1999 3:41 PM
> >Subject: Fwd: Gold and Silver Prices Soars - Lease Rates Soaring
> >
> >
> >interesting info?
> >
> >
> >>From: LePatron@xxxxxxxxxxxxxxxxxxx
> >>To: trdoptions@xxxxxxxxxxx
> >>Subject: Gold and Silver Prices Soars - Lease Rates Soaring
> >>Date: Wed, 29 Sep 1999 07:03:45 -0400
> >>
> >>Metropole members,
> >>
> >>
> >>Midas du Metropole has served commentary at the James
> >>Joyce Table.
> >>
> >>This email was delayed 8 hours as the web server was
> >>down last night.
> >>
> >>This morning the price of gold is $314 up another
> >>$6. However, the big news is that the lease rates are
> >>soaring. One month gold is 9.70%. The one month
> >>silver lease rate is also in the nine's. This makes
> >>last night's Midas du Metropole especially important.
> >>
> >>September 28 -
> >>
> >>Today was something else. At one point Dec. gold was
> >>Approaching $330 and Dec. silver was knocking on $6.
> >>Then Goldman Sachs and the N.Y Fed showed up to
> >>knock prices down.
> >>
> >>During this past summer, I "guaranteed" the Café
> >>this sort of Price action in the precious metals.
> >>I was vilified for some for making that "guarantee."
> >>
> >>Many market participants are confused about what
> >>is going on here. We, at the Café, are not. All
> >>last week I called CNBC, The Wall Street Journal
> >>and the lovely news wire service people that I met
> >>in New York. Except for the gracious Janet Whitman
> >>of Dow Jones, Rodney Dangerfeld got more respect.
> >>They refuse to acknowledge GATA or
> >>www.LeMetropoleCafe.com.
> >>
> >>Really weird. Thus, it is with tremendous appreciation
> >>that I present the following from one of the biggies
> >>in the gold industry, Bob Bishop of the Gold Mining
> >>Stock Report:
> >>
> >>A Note of Acknowledgment: While the internal dynamics
> >>of the gold market do not lend themselves to ready
> >>understanding, one person stands out for his work
> >>in developing the information on the gold market that
> >>more and more are likely to gain a better appreciation
> >>for in the weeks ahead. That person is Frank Veneroso,
> >>and I believe he's in the earliest stages of being
> >>proven right about the extend to which the gold market
> >>is short- an of the likely consequences attached to
> >>that trade. His former associate, Bill Murphy of GATA
> >>( Gold Anti-Trust Action Committee) is the person who
> >>has done the most to gain the attention of the
> >>marketplace on this subject. Those who own gold
> >>and gold shares owe both men a debt of gratitude.
> >>
> >>I accept such kind words in behalf of my two powerhouse GATA
> >associates,
> >>John Meyer and Chris Powell.
> >>
> >>Check in to the Café. Tonite's Midas has the latest
> >>action and lays out what we are up against.
> >>
> >><A HREF="http://www.lemetropolecafe.com/scripts/products.cfm";>Le
> >Metropole
> >>Café</A>
> >>
> >>All the best,
> >>
> >>Bill Murphy
> >>Le Patron
> >>
> >>
> >>
> >>
> >>
> >>
> >>
> >>
> >>
> >>
> >
> >______________________________________________________
> >Get Your Private, Free Email at http://www.hotmail.com
> >
> >
> >
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