It seems that gold followed the market for most of the month of February. The market ended up for the month and so did gold, contrary to the average seasonal price that I mentioned earlier in the thread. I thought the price would go down.
I'm out of gold for now and still have the following positions:
50% of portfolio on Nexen (NXY): $22.16 (I had posted the wrong ticker symbol above. Sorry for any misunderstanding.)
50% of portfolio on Encana (ECA): $32.26
I should have waited to post these since futures were down the morning I posted them and I could have posted a lower number toward the end of the day. NXY ended at 22.50 on Friday (up 1.5%) and ECA 32.78 (up 1.9%) so I'm still above water in those 2 investments. I'm not sure how long I'll be keeping them though.
I'm out of gold for now and still have the following positions:
50% of portfolio on Nexen (NXY): $22.16 (I had posted the wrong ticker symbol above. Sorry for any misunderstanding.)
50% of portfolio on Encana (ECA): $32.26
I should have waited to post these since futures were down the morning I posted them and I could have posted a lower number toward the end of the day. NXY ended at 22.50 on Friday (up 1.5%) and ECA 32.78 (up 1.9%) so I'm still above water in those 2 investments. I'm not sure how long I'll be keeping them though.
The TBT moves against the market, so if rates go up, they go up, and vice versa. Currently the rates can't go anyway but up, the question is when? The TBT follows the auction, so if they get a well subscribed auction, which has been a given, because FED is going all in, the rates stay low, and TBT goes lower. Weeks where no fed auction they drift up, then get taken back down. It has been cycling back and forth. They should be close to there lows, after this week look for rates to move up, and TBT to move also.
Sold these 2 today.
Here is the scorecard. The first 3 trades I mentioned 1-31, 2-4 and 2-5 all went the way I said they would so I am 5-1.
Trade#..Symbol..Bought..Sold..Weight..%..Net
--------------------------------------------
1 DGP 25.00 25.25 1.00 +1.00% +1.00%
2 DZZ 14.13 13.50 1.00 -4.46% -4.46%
3a NXY 22.16 22.84 0.50 +1.03% +0.51%
3b ECA 32.16 33.89 0.50 +1.05% +0.52%
I've been reading this as well kuwl. I was going to sell today because this has dropped enough but I decided to wait it out until next month when it should go up. Sure enough, it went up right after I thought about selling it.
If it goes down too much further I'll sell and look to buy it back next month. Thanks for the input.
Based on the way the bond auction went today, and if they have a poor 7 year auction on Thursday, it could zoom up.
The Fed could start to buy again to hold down prices, but sooner or later it will rise considerably. I buy the calls and put options on this. Depending on which direction it appears to be moving. The China vs U.S. disput could keep them out of the market which should make rates go up, which will be good for this trade.
The Fed could start to buy again to hold down prices, but sooner or later it will rise considerably. I buy the calls and put options on this. Depending on which direction it appears to be moving. The China vs U.S. disput could keep them out of the market which should make rates go up, which will be good for this trade.
