Monday, February 26, 2007

Don't bite too much, be careful

In my January 29 post, I said this is going to be an exciting year. How it is going thus far?

On precious metals, we posted:

Yup, todays price for gold is 640.40, and for silver, 13.12. Some analyst believed that it will rise to as high as 850 for Gold, and 15.20 for Silver by April 2007.

So what are the prices now?

From Gold futures climbed near $690 an ounce Monday, sending the benchmark contract to a seven-month high with analysts upbeat about gold's longer-term prospects as continued defiance by Iran over its nuclear program underscored the metal's safe-haven appeal.

And for silver?

Also from May silver rose 9.6 cents to close at $14.832 an ounce after a high of $14.86 -- levels the contract hasn't seen since mid-May. The contract has gained about 10% in a month.

And how much would that be in a leverage trading? Depends on how much you bought, hahaha.

On the Peso, dollar front, sad to say, the peso will continue moving down to 45 to the dollar no matter what the Central would do. Why?

From the Int. Herald Tribune: LONDON: Central banks around the world are continuing to diversify their reserves by cutting their dollar holdings, according to a survey sponsored by Royal Bank of Scotland Group.

So what can we do? What else? Take profit from all these, remember, in whatever direction it goes, we can take profit. We can use this post as guide on how we are going trade in the long term, on leverage. But I am not an expert, seek a professional opinion somewhere else.

Warning: put your stop loss, and do not bite what you can't afford to lose.

PS: My google check for February has not arrived yet by mail. Of course, I am expecting checks to arrive monthly, checks would arrived in March and April, but my May check still needs to be made, hehehe. I am wondering when I would reach four figures a month? Dream on....