Tuesday, October 14, 2008

Charts on FXY and GLD

Here is the Japanese Yen ticker FXY (chart above) I promised. Notice we have retraced back to the gap and are now sitting on top of it. This looked like a good entry point where one could define his/her risk to either entry into the gap, halfway into it, or at the bottom of it. I have chosen just below the midway point of it, to give it a little room to breathe.

I have not had much luck with gold, ticker GLD (chart above) of late getting stopped out on seemingly regular basis one could stop one's watch to. That said, I am long gold, ticker GLD here as we look to have formed some type of consolidation. I really do not know the intracacies of the inner workings of the gold market as well as others might but when one cannot readily buy a Krugerrand or a Maple Leaf at a moments notice, something seriously and I mean SERIOUSLY is amiss. Call me simpleton but I find it hard to find this comforting.

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit Spder Gold ticker GLD at $82.70 stop at $79.29
Long 1 unit Japanese Yen ticker FXY at $97.15 stop at 95.89
Long 1 unit of Ultrashort 20yr TBond ticker TBT @ $60.10 stop at $60.19
Long 1 unit of Anglogold ticker AU at $17.90 stop at $17.94
Long 1 unit of Goldfields ticker GFI at $8.60 stop at $7.57
Long 1 unit of Chicago Bridge/Iron ticker CBI @ $11.55 stop at $11.79
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $97.71
Short 1 units Salesforce.com ticker CRM @ $56.05 stop at $42.12

1 comment:

HistoryRepeatsItself said...

Look at Gold and Silver prices during the great depression. The best time to buy them was at the end of this deflationary period in 1932.