A Bit of This & That
Good Day! I'm Scotch, not Australian, but it is after noon now.
Gold was up a good bit this morning and then moved down again. It is now at 468.40 where it closed Friday. DROOY reacted nicely to the up tick on gold, so I sold some, not all, at 1.42. That is a much smaller margin of profit than I usually seek, but positive is better than negative.
By the way, I am putting rather close stop sale orders on most of my non-mining stocks. Most are trailing stops @ 10%. That means that as the market price goes up, my sale price trails upward. When the market price moves down, the trailing stop does not. This is a conservative, rational way to protect profit or limit losses.
Gasoline prices at the pump have backed off even more. I filled @ 1.999 this morning at the post. I doubt the prices will remain low in the future, but it is wise to take advantage of it for the time being.
The question among writers on the market seems to be whether we have inflation or not. There are quite a few on either side of this question. All of us have noticed an increase in prices while we shop in the food markets. Some of this may be seasonal, but to me, there seems to be higher prices in most things. Electronics are an exception.
As technology has progressed, the prices have dropped for most items. The thin flat screen televisions are still much too high for me. Digital cameras and DVD recorders have dropped significantly. Of course, almost all of these items come from Asia.
That reminds me of an interesting truth. The low prices are due to low income levels. We always tend to think that the high demand on raw materials would run the prices up significantly. Though the raw materials are more costly now than a while back, these have very little influence on the price of the products coming out of Asia, primarily China. You who shop Wal Mart on a regular basis, I ask, "Have prices increased significantly there where most of their products come from China?" Please, let me know!
Retailers will be looking for astronomical sales on the day after Thanksgiving and on into the Christmas season. The results will certainly show whether the consumer is maxed out on debt and has limited his shopping or thrown caution to the wind and increased his outlandish debt even farther. This will be interesting to watch.
The dollar has backed off a bit, but not substantially at this point. The resource currencies - Australian, New Zealand, and Canadian Dollars - have recovered a bit, too. The EURO at just above 1.17 seems to be hung up on the uncertainty in Germany and the rioting in France.
It is still being reported that Iran plans to open an oil market which will us the EURO next year. I believe the target is about March. That will be interesting to see. The impact on the dollar will have to be observed. It is doubtful that the impact will be great upon opening, but it should increase over time as this new market proves viable.
As we move into thanksgiving, recall the many blessing the Lord has given you and your families and openly express your thanks to Him. Rejoice and give Him the glory.
Best to each, Doug
Gold was up a good bit this morning and then moved down again. It is now at 468.40 where it closed Friday. DROOY reacted nicely to the up tick on gold, so I sold some, not all, at 1.42. That is a much smaller margin of profit than I usually seek, but positive is better than negative.
By the way, I am putting rather close stop sale orders on most of my non-mining stocks. Most are trailing stops @ 10%. That means that as the market price goes up, my sale price trails upward. When the market price moves down, the trailing stop does not. This is a conservative, rational way to protect profit or limit losses.
Gasoline prices at the pump have backed off even more. I filled @ 1.999 this morning at the post. I doubt the prices will remain low in the future, but it is wise to take advantage of it for the time being.
The question among writers on the market seems to be whether we have inflation or not. There are quite a few on either side of this question. All of us have noticed an increase in prices while we shop in the food markets. Some of this may be seasonal, but to me, there seems to be higher prices in most things. Electronics are an exception.
As technology has progressed, the prices have dropped for most items. The thin flat screen televisions are still much too high for me. Digital cameras and DVD recorders have dropped significantly. Of course, almost all of these items come from Asia.
That reminds me of an interesting truth. The low prices are due to low income levels. We always tend to think that the high demand on raw materials would run the prices up significantly. Though the raw materials are more costly now than a while back, these have very little influence on the price of the products coming out of Asia, primarily China. You who shop Wal Mart on a regular basis, I ask, "Have prices increased significantly there where most of their products come from China?" Please, let me know!
Retailers will be looking for astronomical sales on the day after Thanksgiving and on into the Christmas season. The results will certainly show whether the consumer is maxed out on debt and has limited his shopping or thrown caution to the wind and increased his outlandish debt even farther. This will be interesting to watch.
The dollar has backed off a bit, but not substantially at this point. The resource currencies - Australian, New Zealand, and Canadian Dollars - have recovered a bit, too. The EURO at just above 1.17 seems to be hung up on the uncertainty in Germany and the rioting in France.
It is still being reported that Iran plans to open an oil market which will us the EURO next year. I believe the target is about March. That will be interesting to see. The impact on the dollar will have to be observed. It is doubtful that the impact will be great upon opening, but it should increase over time as this new market proves viable.
As we move into thanksgiving, recall the many blessing the Lord has given you and your families and openly express your thanks to Him. Rejoice and give Him the glory.
Best to each, Doug
posted by Doug @ 12:05 PM
1 Comments:
At 5:37 PM,
Doug said…
The markets are a mess now. The Economy is still "muddling through." We need all the help we can get.
Best, Doug
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