December, Almost!
The fall rally in precious metals has finally begun with gold returning to bid/ask $647.40 - $648.40 and silver at $13.91. The rally is very strong and has reaffirmed the bull market. Silver is stronger than gold, because of consumption, continuing demand, and slowing supply. While it is not considered a monetary metal, as is gold, supplies are not meeting demand and stocks are dwindling.
I hold Silver Standard (SSRI) and have been trading some with options on Pan American Silver (PAAS). You might want to look into silver on any correction.
DRD Gold (DROOY) has been under some pressure even with the higher price of gold. It has been trading below 1.20 from time to time during the gold rally. This is not good, but the distractions should pass and DROOY once again move to higher ground.
The dollar has really taken a beating in the last several days with the EURO about 1.32. The EURO is up very strongly for the year, as are many currencies against the dollar. Personally, I continue to use EverBank.com World Market Accounts for securities. It is a simple way to get some funds out of the sinking dollar.
The end of the year is approaching and it is wise to gather all income tax data and make decisions on contributions, possible selling of under performing stocks & bonds, and expending funds for other income tax advantages. Be wise and move swiftly to care for these matters before December 31, 2006. Also, make plans for your IRAs: either Roth or Standard.
It will be December tomorrow. Please, try to sift through the decorations to concentrate upon the Lord Jesus Christ who came to earth to provide us reconciliation with the Father, an abundant life on earth, and eternal life in paradise with Him. He is the reason for the season whether we recognize Him or not.
Best to each, Doug
I hold Silver Standard (SSRI) and have been trading some with options on Pan American Silver (PAAS). You might want to look into silver on any correction.
DRD Gold (DROOY) has been under some pressure even with the higher price of gold. It has been trading below 1.20 from time to time during the gold rally. This is not good, but the distractions should pass and DROOY once again move to higher ground.
The dollar has really taken a beating in the last several days with the EURO about 1.32. The EURO is up very strongly for the year, as are many currencies against the dollar. Personally, I continue to use EverBank.com World Market Accounts for securities. It is a simple way to get some funds out of the sinking dollar.
The end of the year is approaching and it is wise to gather all income tax data and make decisions on contributions, possible selling of under performing stocks & bonds, and expending funds for other income tax advantages. Be wise and move swiftly to care for these matters before December 31, 2006. Also, make plans for your IRAs: either Roth or Standard.
It will be December tomorrow. Please, try to sift through the decorations to concentrate upon the Lord Jesus Christ who came to earth to provide us reconciliation with the Father, an abundant life on earth, and eternal life in paradise with Him. He is the reason for the season whether we recognize Him or not.
Best to each, Doug
posted by Doug @ 9:30 AM
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