Tuesday, September 08, 2009

The Tuesday After

Well, the Friday-Tuesday Labor Day rally thing worked out. I know I said Monday, but we were all at barbeques yesterday, right?

I think gold is the fun one to watch here as it tries to close above $1000. It was mighty close today, rally above and then closing below. It almost seems as if $1000 is a psychological barrier. You have to wonder if it takes off when it breaks through that. I suppose *everyone* is saying that though, right?

You probably know the arguments for rising gold and commodities, right? The dollar is going down, interest rates are low, America is deficit spending, and President Obama asked Congress to raise the debt ceiling. There are no plans in sight to curtail deficit spending.

Another play would be copper, ETF is JJC. But it's up over 100% this year already. Some more diversified plays here.

Same for oil, which has rallied. I think as money is fast and loose in a recovering economy, oil demand will increase.

No, I don't own any gold, copper, or oil at this time. I guess I'll just sit by and let other people make all the money on those trades.


You know, I really wasn't at a barbeque yesterday. I ended up watching a DVD, "Passengers." It was a little slow but I kind of liked it in retrospect.

Already watching NFL injury reports, and the season hasn't begun! Darn that fantasy football! One more draft, tomorrow night. That will make THREE. Good grief.

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