Gold and TBT should move up together, the TBT is going up because of inflation and other pressures. These same pressures should be good for gold also. If for some reason the recovery is stalled, the FED would inject capital into the Bond market and drive rates down, but I don't see them doing that for now. The key element in the equation, is oil. If it starts heading toward 100, it will stall recovery, and send everything down gold, oil, interest rates, stocks, etc..
Sold DGP. Ending price for today: $28.12
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%
4 DGP 27.65 28.12 1.00 +1.70% +1.70%
Total net so far: -0.73%
Expecting the financial sector to continue to do well. I may be looking to buy some FAS after the bell on Wednesday morning.
It looked early on that I sold my DGP too early as the price of gold jumped almost $20 an ounce. However, it scaled back a little later in the day.
As I've said before, I'm not here to exactly time the market. If gold continues to go down I'll be satisfied that I was able to sell within half a day of the peak.
FAS really sold off toward the end of the day. I may wait one more day before getting back into that.
As I've said before, I'm not here to exactly time the market. If gold continues to go down I'll be satisfied that I was able to sell within half a day of the peak.
FAS really sold off toward the end of the day. I may wait one more day before getting back into that.
Glad to hear that jdog. That's what I've been reading in the kitco forums. Gold resistance at 1150 but platinum continuing up.
I took a small position in platinum but don't expect to hold it long so I didn't post it here. I'm waiting for financials to continue up after a short correction this week so I want to post that trade instead.
:toast:
Just wanted to say I put in a stop at 107.40 to guarantee no loss. In after-hour trading on Friday FAS went to 108.15.
The Greeks just got a guarantee from the Eurozone so hopefully financials will continue to rise throughout the next couple weeks. I'm looking for BKX to go up near 60 and will sell just before then.
If I get tripped out at 107.40 I'll buy on the dips.
arty:
Sold at 114.10.
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%
4 DGP 27.65 28.12 1.00 +1.70% +1.70%
5 FAS 107.40 114.10 1.00 +6.24% +6.24%
Total net so far: +5.51%
I'm wondering if sometimes the market over-reacts to news. Last Friday Goldman Sachs was accused of fraud and FAS dropped from 114 to 104 throughout the day. I wonder if FAS would be a good buy at this time, especially since GS will be reporting their numbers on Tuesday.
From what I hear those numbers should be good. The question is whether they will be better than what the market already expects and another question will be is it enough to recoup some of Friday's losses.
I'm not going to buy any FAS as of this time but I thought I would put this here as a bookmark to this principle of the market over-reacting to news. GS could report a lower than expected report on Tuesday and that would cause FAS to go lower so I will just stay pat here.
From what I hear those numbers should be good. The question is whether they will be better than what the market already expects and another question will be is it enough to recoup some of Friday's losses.
I'm not going to buy any FAS as of this time but I thought I would put this here as a bookmark to this principle of the market over-reacting to news. GS could report a lower than expected report on Tuesday and that would cause FAS to go lower so I will just stay pat here.
Goldman could be a real game changer, it gives the Gov't amo for big-time trading changes. I think the "FED" has been looking for the smoking gun, so to speak that led to them taking a beating on AIG's CDO portfolio last year, and Goldman was a big winner in that mess.
As they say what goes around, comes around.
I'm looking at Morgan Stanley, and Bank of America, if they get beat down.
As they say what goes around, comes around.
I'm looking at Morgan Stanley, and Bank of America, if they get beat down.
Bought some options on the TBT today, I don't see it going much lower. If earning continue to be good, it should suck people out of bond and force rates high for the next month.
I'd be very carefull with DGP, if everybody starts to move out of gold at sametime, you could see it trade unrealistic to the market on the way down.
I'd be very carefull with DGP, if everybody starts to move out of gold at sametime, you could see it trade unrealistic to the market on the way down.
