Hey! So my name is Dina and I am senior at Harvard Univeristy; the past three years I have been following the markets under the surveillance of a mentor. Although I no longer work for him because of time constraints (University and athletics can be quite a commitment), he has instilled in me an obsession with the markets; I feel like there is no better way to feed this obsession than by blogging about what I read about. What can I say, it's better than my addiction to house music.
I basically research gold, the US dolar, commodities, the DOW and other indexes. Those are my primary focuses, I don't really go into treasuries and bonds because I find them less interesting because they're less volatile. I like risk :)
So today's entry:
OCT 7th
December gold is trading up 11.30 at 1,359 and has peaked at 1,366.00 which is an intraday high. There's only been a resistance of 13.00 at 1,372.8 and there's decent support at 1,339.00. Regarding the purchase of gold, I'm not going to buy any at the moment because people are getting greedy it is getting overbought. I'm just going to sit and wait for a reaction, probably somewhere around 1,380 or a bit less.
As for silver, it is up 30 cents at 23.35 and has maxed at 23.55, a new ten year high. Resistance is up at 26.45.
The US dollar is down again at 77.42, and has traded as low as 77.33- another low. Meanwhile, the December Swiss Franc continues to rise up and at 1.0437 is looking good. The dollar is oversold and should find strong support at 76.98.... which will be right around the corner.
That's all I really got out of today... besides some commodities stuff which I'll blog about on Monday night or Tuesday. So... I'm going out! Have a happy three day weekend, friends!
Dina
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