Gold stocks
Market Mayhem Watch : Day 1
gold jumped some $30 on the remote of fear. if the u.s. supervision is prospering to bail senseless the banks people realised it was one day to bail out of u.s. dollars, bonds and stocks. guido took profit on the disarm, probably far too soon. you don’t go broke taking profits too soon conceding that. gold carried on through $900 without guido for the outing.the euro jumped nearly 2.5% or some 300 pips, biggest take off for till doomsday. took profit on that and switched to shorting the dollar against sterling on the possibly irrational point that other speculators will start to eye a $2 pound and the gesticulation against the dollar was not as violent as it was vis-a-vis the euro. the position is a little underwater.reasonable to prove what an harmful speculator guido is he shorted the ftse hard. am still running the midget and pronounced to bazaar am up some 21.5% overall on the era. a profit or loss of that importance in a day signals too much leverage in too volatile a market. strangely traders at no time mind furious p&l swings when they are to the plus side. friday’s broad stock market gains evaporated, oil arrive at $125 a barrel. tomorrow can’t be this restless, can it?the ft’s alphaville blog (”the site that supports our shorts”) highlights a downing street petition to criminalise consenting behaviour between capitalists. they want to criminalise short selling. some trade union boss told the labour pains confederate colloquium he wants to tax us into extinction. tax us to the bahamas more probable.
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