Monthly Archives: August 2011

Gold gone Wild

Right now gold is hovering near $1,800 per oz even after the CME announcement hiking gold margins by 22%. I like gold but I wouldn’t be injecting fresh capital at these price levels especially after gold’s parabolic surge the past few weeks. Late spring of this year the CME raised margin requirements on silver 4 times  over a period of a week and silver violently crashed to the downside in a blink of an eye. Silver still hasn’t recovered its 2011 price high after the early summer tank job and is struggling to keep up with gold’s up move the past week due to its industrial application in a sluggish global economy. If gold continues to rise from this point there’s a likely possibility of the CME stepping in again to raise margin requirements to slow down gold’s upward momentum. I’d like to see a nice pull back before acquiring more of this yellowish lustrous chemical element.

VIX soars high like MJ

The investor fear gauge also known as the Volatility Index is widely used to measure market risk. The VIX soared 35.41% higher today to 31.66 reflecting the market mood.

The big market dump started in Asia and worked its way into Europe then finally hit America.

By the end of the day… stocks, gold and oil closed sharply lower. Over the last 10 trading days U.S. stocks have lost more than 10%, the traditional definition of a market correction.

I don’t think we’ve seen the high for the year on the VIX. The American economy is anemic and Europe’s problems are far from over.

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