Investing and Trading News, with a Contrarian, Sarcastic Twist!
The long term outlook for gold looks quite promising. First, from Agora Financial’s 5 Min. Forecast: Open interest in NYMEX’s (COMEX) gold futures contracts breached an all-time high of 500,000 this week. Never have so many traders been betting for — or against — gold than right now. So… you might ask… where’s the smart […]
Forgot to update over the weekend – quite a week last week! Most of the gains were thanks to the currency rallies. I picked up an Aussie $ contract this morning so that I can track it – don’t plan to add to it unless it drops. Date Position Qty Month/Yr Contract Strike Call/Put Entry […]
On Friday I sold all of my Euro and Aussie $ positions. Both ended the week in a flurry, with the Euro topping 1.44 and the Aussie $ topping 0.92. This rally was thrilling, but ultimately made me too nervous to stay in the positions. Everyone today is bearish on the dollar – and when […]
Says the yuan is the “best currency to buy right now.”
As we expected, cotton is being ignored by farmers. Projected 2008 acreage is low.
It was a nice buying opportunity for some currencies yesterday, but the window didn’t stay open long. I’m glad I had time (and the guts – it wasn’t an easy call) to pull the trigger. From the Daily Pfennig’s Chuck Butler:“Good day… And a Terrific Tuesday to you! Well… I sure received a shock yesterday […]
“There are just too many factors pushing gold higher,” says James Turk of GoldMoney.
The Aussie $ and Euro are being sold off as a result of unwinding carry trades. With the Yen rallying, traders are rushing out of their carry trade positions. I see this as a buying opportunity, and I’ll gladly take the other side of the trade here. Ticket # Reference # Time Entered Status 7621771 […]
Jurgens Bauer says hang on for now until the market bottoms. I have to agree – they don’t ring a bell at the bottom, but be careful before jumping in. However I believe the long side of this trade is the right one long term.
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss Market Value Action 10/03/07 Long 1 DEC 07 Australian Dlr 0.8820 0.8923 $1,030.00 10/16/07 Long 1 DEC 07 Australian Dlr 0.8843 0.8923 $800.00 10/15/07 Long 1 DEC 07 Australian Dlr 0.8960 0.8923 ($370.00) 09/24/07 Long 1 DEC 07 Cotton 66.00 65.40 ($300.00) 01/22/07 […]
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