i don't begin to pretend to understand derivatives or JPMs
financial situation, however, i know at one time they were heavily short gold and taking advantage of the leasing game. i believe there was some clean-up work done on Wednesday during the $11 drop in gold. one thing that bothers me is the possibility that those who were heavily short gold may (with the assistance of higher powers) be able
to use the decline to cover their positions and then actually
accumulate and make money both ways. The recent decline in gold must have done alot to alleviate some of the shorts problems so i wonder if the same explosive potential exists now. i bought heavily earlier in the year and was fortunate to sell 80% of my gold positions near the recent top.
i bought a decent position in NEM @ 19 after their big deal was announced and sold (too early) @ 29. I also took a huge position in BGO under .50 and sold most of it above 1.50. I have no love for JPM but cannot wish for a bank melt down just so i can make some $ in gold. July and August are historically weak for the PMs so we will have watch to see if something is different this summer. if so, that could be the tell. i think the big boys have a much better idea of the state of affairs so i can only anticipate and react. sorry for the ramble. best of trading
Market Data 
Markets 
AI
