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Re: Chapman (WND) "He added, "The recent disclosure of his role with Silverado and the less publicly acknowledged role he played with the Renaissance bag job should tell anyone all they need to know about the guy. If those episodes do not, his recent 'disappearance' says it all. Gold has enough of a kooky perception problem without this guy reinforcing every bad stereotype about those who populate the gold world."

 

I always thought the guy was a little paranoid (of the black helicopter-following-my- car variety), but his writings were indeed interesting.

 

Silence often speaks volumes. The Bulls aren't the only ones with scamers.

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Whatever happened to Bob Chapman's International FURcASSter? Can't seem to find any updates on www beyond mid Jan or so.

 

Anyone know?

 

Tia.

He's fled the country. Ha Ha Ha. This guy has been scaming for decades, I'm sure he will float to the top again someday.

See the bottom of this story for his "rap sheet"

 

http://www.worldnetdaily.com/news/article....RTICLE_ID=31106

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Chapman's anti-Federal anit-establishment govt rhetoric was so virulent HRFF thought it would, in the current climate of mounting phobia, probably be just a question of time beFUR he "disappeared".

 

He did/does have badly needed candor in some respects re the bigger px, which The BARE will miss.

 

Too bad he got caught up in snares of his own? making? Like another outspoken type, Marty Armstrong?

 

What a dubious alleged track WRECKord w all those states declaring him persona non grata, etc.

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PHAT,

 

I bought these punts on Tues & Weds during the ramps and have been actively trading them on every lift and dip. Basically my average cost is around $2.85 but I hedged by shorting 835 puts today at $1.50. So the way it works is today is the last day to trade the puts. The opening print tomorrow determines their value. If I choose to exercise them I will get paid on the fist business day after they expire on saturday.

 

They are called punts because they had three days to expiration and were $10-13 out of the money when I bought them. Therefore they had a high likelyhood of going out worthless. In fact if the market gaps up tomorrow they will go out worthless, hence my short 835 stance.

 

Here is the payout. My net basis is now $1.35 (long position - short position) and cash spoos closed @$837.10. Therefore I currently have a profit of $1.65 per contract. Should they gap down to 835 or below I will have a profit $3.65 per contract. If they gap up the spoos to 840 my loss will be $1.35.

 

This is actually a busted trade. I usually don't trade front month paper to avoid this kind of gun to the head situation. I originally entered this trade @$5.00-5.70 on Tuesday and have traded the same 200 contracts about 8 times in the last two days. A perfect example of theta decay, I pratically nailed the tops on tues&wed but have been dripping premium faster than the price of the spoos has fallen.

 

Reviewing the derivative books, I felt that expiration was targeted at 800 or 825 on the cash spoos which would have made my P/L projection more like $11-12 per contract. By the way if the market closes @825 or below tomorrow you may see me on the nightly news, look for the lunatic running through the exchange chasing a market maker.

 

Hope this helps,

Roger

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Was watching the movie "Wall Street" last night. Remember the scene when Gekko addressed the audience at the paper company shareholder meeting? He started by saying: "...well ladies and gentlemen, we're not here to indulge in fantasies, but in political and economic reality. America has become a second rate power. Our trade deficit and fiscal deficit are at nightmare proportions. In the days of the 'free market' when our country was a top industrial power, there was accountability to the shareholders..." This was in 1985 but I feel like these statements apply today as well. Scary...

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