Certainly hedge fund liquidation was seen today. As Dennis Gartman advised, "Better to panic and remain liquid." And Dennis should know because he is being whipsawed recently in his metals trades, judging by his acknowledged trades and advice at any rate. I am sure his investors feel safer in cash as well.
Could it be more than that? There has certainly been a keen desire in some quarters to keep silver below $36 and gold below $1430 the past few weeks.
"You never want a serious crisis to go to waste," Rahm Emanuel, Mr. Obama's new chief of staff. "Things that we had postponed for too long, that were long-term, are now immediate and must be dealt with. This crisis provides the opportunity for us to do things that you could not do before." WSJ, 21 Nov 2008Does Crisis = Opportunity? Only for the nimble and those highly experienced in risk management. The average person would probably be better off waiting for the current situation to clarify.
