Inside Gold
The volatility in the economic sector has crossed all barriers from Wall Street to Main Street. The Stock Market has experienced triple figure moves on a regular basis causing sheer panic with investors.The price of Crude Oil has dropped from the $150.00 per barrel level down below $67.00 per barrel. Gold has not gone unscathed in the recent volatility. Many investors use Gold as a leverage to protect their Stock portfolio's.This has caused the Gold market to drop from $1037.10 on March 8,2008 to the $695.50 on October, 2008 .(just 7 months later).
I remain Bullish long term simply because despite the "Bail Out " very little has changed. Foreclosures are still happening, unemployment is still a problem, and the recent "Bail Out" is not a miracle fix. This current economic climate did not happen over night it certainly will not be corrected over night. It's kinda like putting a Band-Aid on a gapping wound.these truly are the most volatile times of our lives.
I am looking to get long some Bull / Call spreads in the February contract because I believe there will be more rate cuts to come. Since Gold is the "anti " Dollar i would rather be long gold than long the U.S. Dollar going into the Holiday season. Unfortunately I believe this could be a very lean Holiday season for many. (Consumer spending should be down). It also seems it is the time of year Employers layoff Employees.
I invite all to log on to Traders Illustrated.com for a free Magazine and to learn more about the upcoming Gold Trading Contest with the winner receiving 10 oz. of Gold!
LET'S TALK GOLD....
Mike Daly / Senior Broker
Traders Illustrated.com
Gold / Marketing Director
mdaly@superfutures.com
888-217-7683
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As US dollar is the currency traded by most of the Countries, gold will go up if the dollar weakens. It will go down if the dollar fails to weaken. Advance wishes to the winner of 10 oz. of Gold..
MyInvestorsPlace - Trading, Investing, Forex, Stock, Market, Technical, Analysis, Systems
As US dollar is the currency traded by most of the Countries, gold will go up if the dollar weakens. It will go down if the dollar fails to weaken. Advance wishes to the winner of 10 oz. of Gold..
www.myinvestorsplace.com - MyInvestorsPlace Trading, Investing, Forex, Stock, Market, Technical, Analysis, Systems
As US dollar is the currency traded by most of the Countries, gold will go up if the dollar weakens. It will go down if the dollar fails to weaken. Advance wishes to the winner of 10 oz. of Gold..
www.myinvestorsplace.com - MyInvestorsPlace Trading, Investing, Forex, Stock, Market, Technical, Analysis, Systems