Thursday, November 09, 2006


Its breaking out and is gonna continue. The china news that they are going to shift around their currency reserves is huge news and I think will motor gold right up. The dollar on the other hand is in trouble and is getting deystroyed. im not a currency trader but i cant help but see my buying power overseas dropping steadily.

elsewhere its an interesting time for the market as we see if maybe a top has formed or if its a healthy pullback. Im still net short, but have hedged a bit. As a result its tought to add positions especially when Ive built such a gold and short housing position(s) recently. both are working out well and should continue my way. And boy do i need it.


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