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Will gold go down to $800?
Thursday gold was valued at $1200. I made a $100 bet with a trading buddy that it would fall 400 points to $800 before it rises to $1600. He is bullish on gold, I’m personally bearish. My reasons are as follows. Housing starts are increasing. The job market is on the rise. Economy appears to have bottomed out. Carry trades will unwind at an unprecendented pace once the dollar starts to rise and traders have to cover their shorts. If you drive down any commercial area in a neighborhood where the median house price is under $100k...
read moreWho has the world’s gold?
By Country in tons Value in USD United States 8,966 344,294,400,000.00 Germany 3,757 144,268,800,000.00 IMF 3,326 127,718,400,000.00 Italy 2,703 103,795,200,000.00 France 2,695 103,488,000,000.00 China 1,162 44,620,800,000.00 Switzerland 1,147 44,044,800,000.00 Japan 843 32,371,200,000.00 Netherlands 675 25,920,000,000.00 Russia 627 24,076,800,000.00 India 615 23,616,000,000.00 European Central Bank 553 21,235,200,000.00 As of Sept....
read moreJobs report comes out only down 11k jobs from last October
The non-farm payroll jobs report was released today showing that there were only 11k jobs lost from October to November. This is another indication the economy is turning. On another note I noticed something interesting while analyzing the NFP charts. If you look at the data George Bush took office in 2001 with 132,469,000 jobs. When he left office there were 134,333,000 jobs. Which means he increased the amount of jobs in the country by 1.3% in the 8 years he was in office. To put things in perspective his predecessor, Clinton, increased...
read moreObama goes to China…
Obama recently went to China. I’m sure while he was there the major focus was the value of the Remnimbi to the dollar. I’m going to watch the long term value of the dollar closely at this point. I believe there may be a reversal breakout which if it happens I think it’s going to be real. Here is an image of the EUR/USD. Will it start to turn and head...
read moreEquity Update
WWB I is running at 10.1%, inception 9/8/08. WWD I is running at 11.1%, inception 10/21/09. Remember WWDI is running in a more conservative mode at this point. So as I said results will not be stunning but a lot safer. Here is the link to my original post where I decided to shoot for 100% return in 1 month, http://www.jeremywhittaker.com/?p=174
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WWB I is running at 5.8%, inception 9/8/08. WWD I is running at 10.2%, inception 10/21/09. It is almost double of WWB after only 9 days. I’m going to switch to phase B of WWD I so my increases will not be as large. I’m actually switching to a more conservative approach at this time. Results will not be stunning but a lot safer. Let’s see what we can do… Here is the link to my original post where I decided to shoot for 100% return in 1 month,...
read moreEquity Update
Whittaker Wealth Builder I is running at 9%. The dollar seems to be falling again after the GDP report this morning. I explained my theory to this in a another blog. Whittaker Wealth Destroyer I is running at 7%. Only 2% away from matching my returns for over 1 years worth of investing in Whittaker Wealth Builder I. All of this in eight days. Here is the link to my original post where I decided to shoot for 100% return in 1 month, http://www.jeremywhittaker.com/?p=174
read moreWhy is the USD heading down after 3.5% GDP increase? Insider information?
I was reading an article in the financial times I believe on Monday. The author of the article was saying how nobody could figure out why the USD was gaining ground against major currency pairs. Having 5 short USD positions and losing 12% in my ”Whittaker Wealth Builder I” strategy I was wondering the same thing to myself earlier this week. Why are all of my positions tanking. There have been no reports that came out for reason of this drastic change. Then last night, almost a week later, I was reading the reports that...
read moreThe Theory of Reflexivity
The theory of reflexivity states that investors’ and traders’ biases can change the fundamentals that are actually supposed to be represented in the markets. If you haven’t read Soros’ work I would recommend going to http://www.ft.com/soros Or picking up one of his books.
read moreEquity Update
Whittaker Wealth Builder I is running at 7.1%. I took a huge hit this week as I held short dollar positions in most major pairs. This killed me. Whittaker Wealth Destroyer I is at 4.1%. Unfortunately work has got me busy so I haven’t had much time to trade this discretionary system. Either way the USD seems to be bouncing off its lows to the Euro for what reason? Who knows. Probably a good thing I haven’t been trading or I would be stuck in some long position.
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