Wednesday, September 16, 2009

Emini Futures Trading / Prosperity for God's People - Wednesday September 16, 2009


Free Market Profile Webinar
Attend Ion Trades free live Webinar this Saturday, September 19th at 1:00 PM E.S.T. In this session you will learn how Market Profile's Opening Balance and Initial Balance provides the trader with valuable information and assists them in managing the rest of the Regular Trading Hours session. Learn to navigate the open, assess what the trading community is attempting to do with the market auction and be prepared to react accordingly. This information will be shown using the ES E-mini, however this methodology can be applied to any market/product.

See you there … The Drake

Who Else Has Been Buying Gold?

The question is are you the last one now to be buying gold? The list of successful hedge fund managers who have been buying gold has been growing. It is not just hedge funds…how about China?

What I find interesting is the fact that the hedge fund managers who successfully called the housing crisis are now buying gold. It is not just they are simply buying, they are buying in a big way. John Paulson who made a fortune in the subprime crisis is now betting heavily on gold. He has invested almost 50% of his fund in gold. He is not alone.

David Einhorn has been buying gold heavily as well. Besides hedge fund managers and China, virtually every trend-following commodity trading advisor has been buying gold since its recent break out. The difference with the commodity trading advisors is they are not looking at any fundamental reasons, they are buying simply because the price has been going up. The fundamentalists claim that regardless of inflation or deflation they believe gold will continue its upward thrust.

Inflation is clear with all the money being printed. The deflation stance is interesting as the fundamentalists feel that the US dollar will devalue and with this Gold will go up in value. Their thoughts are aligned to almost a debt deflation stance causing inflation. This is comparable to what happened to the Asian tigers in 1998.

Regardless if one is fundamental or a trend following commodity trader, gold has been moving upward in price. It might be worth considering having some gold coins in your pocket.

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