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To: djf

“...and is advising the $840 December shorts to exit their positions. That is the remaining open position.”

I’m just beginning to learn about this stuff, can you explain what this means. The language always baffled me.


9 posted on 12/13/2008 7:28:03 AM PST by Leonard210 (Tagline? We don't need no stinkin' tagliine.)
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To: Leonard210

I don’t understand all that language either but it sounds like the people who’ve bet gold will down from $840 will get burned and better to minimize their losses now and cover.


12 posted on 12/13/2008 7:31:32 AM PST by rvoitier
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To: Leonard210
can you explain what this means.

Basically, folks who sold things they don't own are being advised to buy enough to cover what they sold, before the price goes any higher. As the end of the month nears, more and more of the folks who sold what they don't own will be bidding the price up so they can cover their positions.

Now, if you or I went around selling a lot of stuff we don't own, we'd be accused of fraud. But in the financial markets, it's called shorting a position, and it's the way a bunch of the 'pros' make money.

33 posted on 12/13/2008 7:58:59 AM PST by PAR35
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To: Leonard210

BTW, if there are specific words that baffle you with regards to the financial market, then this site has been of assistance to me: http://www.investopedia.com/?viewed=1


53 posted on 12/13/2008 12:12:13 PM PST by mbj
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