Today the game got a little tougher - hedged trading accounts were banded. Basically the hedged accounted allows a trader to short a stock on a downtick. It also hides the fact that it is a new position verses closing out a position.

I don't remember anyone posting this here - a few weeks ago the NYSE adopted the following rule: When the S&P futures contract drops over 12 points, the NYSE will no longer honor stop loss orders placed on their books.

In light of the recent U.S. military strikes against terrorist

targets in Afghanistan and Sudan, and possible threats to Americans and

American interests overseas, the Department of State urges U.S. citizens

traveling or residing abroad to review their security practices, to remain

alert to the changing situation, and to exercise much greater caution than

usual. Large crowds and other situations in which anti-American sentiments

may be expressed should be avoided. U.S. diplomatic posts worldwide are

taking appropriate security precautions.

Americans should be aware that Embassy operations are currently suspended

in Somalia, Sudan, Republic of Congo-Brazzaville, Democratic Republic of

Congo and Guinea-Bissau.

No U.S. consular services are currently available in these countries.

The United States does not maintain diplomatic or consular posts in

Afghanistan, Iraq, Iran, Libya and North Korea, and therefore no support

services are available to Americans in these countries. In light of the

above, Americans need to take additional and enhanced precautions with

reguard to these areas. Consular services in Kenya and Tanzania have been

reduced to minimal levels and in most cases to emergency citizens services

only.

American citizens traveling abroad should contact the nearest U.S. Embassy

or Consulate by telephone or fax for up-date information on security

conditions. Current information on post operations is also available on

the Internet at http://travel.state.gov.http://travel.state.gov. This Worldwide Caution supercedes

the Worldwide Cautions issued on August 7 and August 16.

Department of State travel information and publications are available at

Internet address: http://travel.state.gov. U.S. travelers may hear

recorded information by calling the Department of State in Washington, D.C.

at 202-647-5225 from their touchtone telephones, or receive information by

automated telefax by dialing 202-647-3000 from their fax machine.

In a backhanded way, the poor performance of the gold stocks is a barometer of how the markets are likely to behave. People tend to buy gold stocks during bullish times when they get nervous about how high a market has gone up. Right now, I suspect the nervousness is with any equity stocks. Especially ones that go down in deflationary times.

Have you thought about the fact that long term rates are clearly heading south, but that the US markets are not responding?

The US dollar will continue to rise ( or at least not fall ) until the last big non-US currency crisis is over. Russia, Japan, South America, Communist China still in progress. How will Germany do when their debt in Russia is uncovered? And -- the IMF -- the prime representative of the developed world fiat currencies -- is flat broke.

What really worries me is that if the US dollar continues to rise, what of Canada, Australia, etc? Even Europe. Shades of 1929.

What do we see beginning to turn the corner? Perhaps Japan. Japanese bankrupcies are accelerating up, indicating a change. Probably will get worse before it gets better.

Another wild card is the fact that the US markets are heading south -- clear to all in the know. Eventually the same thing will happen to the US dollar.

At some point, AG will be forced to lower short term rates -- or risk financial collapse in the US.

Unfortunately Gold equities look even worse. No high-volume market churning to indicate a selling frenzy that might signify a bottom. I think the most likely scenario is that gold equities will go down some more before they bottom. Gold bullion may very well have bottomed, but that is little consolation if you are naively in drooping gold equities waiting for the rally that isn't/wasn't.

I'll bet that CRY0 and interest rates will be heading down some more -- and that Gold bullion will not rally significantly for some months more. Maybe spring 1999. Keep your powder dry - I am down to 5% equities, rest cash/US treasuries.

Today I sold the remainder of my ( long ) gold equity funds, on the assumption that we may have yet another gold fire sale. Perhaps not enough for gold bullion to do a swan dive below 280/oz, but certainly enough to make anyone invested in all but the best gold equities to wish he/she knew nothing about gold.

Why did I have to choose to invest in a political commodity? Well -- patience is a virtue, and those that can weather this deflationary storm will be well-rewarded indeed.

http://www.newsday.com/ap/rnmpwh1o.htm

Here's some technical analysis ( below the chart ) on October Copper futures. The current price is pretty close to production costs for conventional processes ( the last data I had on this was $0.65/lb, several years ago )

http://tfc-charts.w2d.com/zdisplay.phtml?cbase=CP&cterm=A8

Three rings for the elven kings under the sky

Seven for the dwarf lords in their halls of stone

Nine for mortal men doomed to die

One for the dark Lord on his dark throne

In the land of Mordor ( spelling ) where the Shadows lie

One ring to rule them all

One ring to find them

One ring to bring them all, and in darkness bind them

In the land of Mordor where the shadows lie.

There might be more, but that's all I can remember of it. Kath: I'm sure it is a beautiful place, seen it in books, and would love to travel there. I think my next trip will be Machu Picchu assuming all out war doesn't break out - I had wanted to go to Egypt, but went to Italy instead when those tourists got killed. Maybe someday. Oh, and no, I'm not pulling translations out of my head.

Clinton did'nt have the guts to go to Viet Nam, but he is proving to be a real long range warrior, especially when it comes to killing civilians.

Anyway, it's Revelations, and it's just saying that everything will pretty much suck.

Revelations 6:5, 6:6 ( Vulgate )

6:5 et cum aperuisset sigillum tertium audivi tertium animal dicens veni et vidi et ecce equus niger et qui sedebat super eum habebat stateram in manu sua

6:6 et audivi tamquam vocem in medio quattuor animalium dicentem bilibris tritici denario et tres bilibres hordei denario et vinum et oleum ne laeseris

Revelations 6:5, 6:6 ( King James )

6:5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.

6:6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.

Rev. Lionel Cabral of Florida had this to say-

** And when he had opened the third seal, I heard the third beast say, COME AND SEE. AND I BEHELD, and lo a black HORSE [famine]; and he that sat on him had a pair of balances [scales] in his hand. And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny [a day's wages], and three measures of barley for a penny; and see thou hurt not [take not of] the oil and the wine.

Another guy named Jay, found him on the Internet, studies the scripture and did some direct translation from Hebrew on his own. He also commented on what he read and put this down in text-

** The Black Horse represents famine. A quart of wheat for a denarius, and three quarts of barley for a denarius. A denarius was a small silver coin which was approximately equivalent to twenty cents which then was a ordinary days wages. The price for wheat and barley were 8 to sixteen times the price. The result of prolonged past, present and future wars which also leads to famine prices. Therefore a working man will not be able to support his family.

Further, comments on and from what is apparently a very scholarly examination of Revelations, Gnornon Novi Testamenti and Ekklarte Offenbarung, we get this discussion of 6:5 and 6:6-

** And I heard a voice - It seems, from God himself. Saying - To the horseman, Hitherto shalt thou come, and no farther. Let there be a measure of wheat for a penny - The word translated measure, was a Grecian measure, nearly equal to our quart. This was the daily allowance of a slave. The Roman penny, as much as a labourer then earned in a day, was about sevenpence halfpenny English. According to this, wheat would be near twenty shillings per bushel. This must have been fulfilled while the Grecian measure and the Roman money were still in use; as also where that measure was the common measure, and this money the current coin. It was so in Egypt under Trajan. And three measures of barley for a penny - Either barley was, in common, far cheaper among the ancients than wheat, or the prophecy mentions this as something peculiar. And hurt not the oil and the wine - Let there not be a scarcity of everything. Let there he some provision left to supply the want of the rest This was also fulfilled in the reign of Trajan, especially in Egypt, which lay southward from Patmos. In this country, which used to be the granary of the empire, there was an uncommon dearth at the very beginning of his reign; so that he was obliged to supply Egypt itself with corn from other countries. The same scarcity there was in the thirteenth year of his reign, the harvest failing for want of the rising of the Nile: and that not only in Egypt, but in all those other parts of Afric, where the Nile uses to overflow.

Anyway, John wrote Revelations in Asia Minor ( Isle of Patmos in the Aegean Sea ) in about 96 AD, so that helps put it all in context. It looks like the Roman coin, the denarius, was in the actual Hebrew, but I can't verify that, and it would seem that it was a day's wages.

Cheers.

If all of this is in the BIOS, all that would be needed is for someone to make the appropriate BIOS chips, or a flash BIOS with the appropriate patches. I for one would rather buy the chip already configured for my computer, rather than watch Warp 5 begin. Best if Warps are Star Trek only.