Gold Pushing Toward $600
Gold is at $593.40 now which is higher for the time being. It must break and stay above $600 to be on its way again. I really do not expect much excitement in the precious metals or oil until after the election. Both will be under pressure.
Of course, worsening relations with Iran or North Korea would instantly change things. All natural resources, particularly, precious metals should get a big upward thrust, because of the uncertainly and fear.
Meanwhile the DJI are again at 11967.75 pushing toward 12000 which many see as a magic number. This must bring encouragement to the general market investors. I still believe the general market to be a dangerous place for investments. I am not at all comfortable with the recent run up in the DJI. The optimism is misplaced as I see it.
Also, I have begun putting trailing stops on a portion of my mining stocks. 10-15% trailing stops are for insurance against a strong downward move. It is comforting to have this insurance from time to time. Trailing stops are neat, since the stop price follows the stock price as it moves upward. However, on a strong correction, the stop will be hit and the stock will be sold giving you more funds available to buy at or near the bottom of the move. Many of us will sleep better with the stops in place.
Make your week really great as you give praise and thanks to the Lord your God.
Best to each, Doug
Of course, worsening relations with Iran or North Korea would instantly change things. All natural resources, particularly, precious metals should get a big upward thrust, because of the uncertainly and fear.
Meanwhile the DJI are again at 11967.75 pushing toward 12000 which many see as a magic number. This must bring encouragement to the general market investors. I still believe the general market to be a dangerous place for investments. I am not at all comfortable with the recent run up in the DJI. The optimism is misplaced as I see it.
Also, I have begun putting trailing stops on a portion of my mining stocks. 10-15% trailing stops are for insurance against a strong downward move. It is comforting to have this insurance from time to time. Trailing stops are neat, since the stop price follows the stock price as it moves upward. However, on a strong correction, the stop will be hit and the stock will be sold giving you more funds available to buy at or near the bottom of the move. Many of us will sleep better with the stops in place.
Make your week really great as you give praise and thanks to the Lord your God.
Best to each, Doug
posted by Doug @ 9:33 AM
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