Bob Pisani: large Macro hedge funds unwinding short dollar/long gold" trades

verfasst von CRASH_GURU, 15.01.2004, 23:09

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Bob Pisani on gold

For those that don't see CNBC during the day, Bob Pisani, reporting from the floor of the NYSE attributed the move in gold to hedge fund trading.

He described it as several large Macro hedge funds that had been highly leveraged in"short dollar/long gold" trades (which has paid well over the past few months) unwinding those positions.

Apparently, the recent comments by the ECB about the Euro was enough to get them spooked to the point that they decided to book profits.

Once a few of them started buying dollars and selling gold to close their positions, the rush to the exits was on.

After that, the margin players probably got taken out; probably followed by the weak holders that had too large a position in gold to stomach.

Such is life in markets dominated by hedge funds.

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gesamter Thread:

• Bob Pisani: large Macro hedge funds unwinding short dollar/long gold" trades - CRASH_GURU, 15.01.2004, 23:09
  • Da waren wir doch seit einer Woche richtig positioniert, oder? (owT) - Emerald, 16.01.2004, 00:07
    • wenn Du jetzt noch den richtigen Wiedereinstieg triffst, - siggi, 16.01.2004, 00:48