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Thursday, December 11, 2008

The Markets Wait For No Man ...

"Thus, though we have heard of stupid haste in war, cleverness has never been seen associated with long delays." - Sun Tzu, The Art of War

We've had quite a day of market action. I'm not sure if I've ever received as many emails and pm's, in as short a time period.

I put out a twitter update explaining a few of my thoughts. However, twitter only gives you 120 characters. Considering the moves that are being made in the markets, I figured that 120 characters was not enough. So what better time to have a short blog entry, detailing my thoughts. I have two courses of action that I have my eye on. I haven't pulled the trigger yet. But I'm eyeing them up.

One possibility is in physical silver, and the other is with the Euro.

The Euro is the contending currency that really showed it's strength against the U.S. Dollar today. So I'm looking at a possible entry with the Euro based of technical analysis. If we get a pull back, and then a rebound in strength with the Euro? I'd probably take a dip into this currency via the Futures markets. So in effect, I would not be transferring any money to another currency. It would simply be a means of hedging against any losses of my current U.S. Dollar holdings.

The other thought, is that of physical silver. If SIH9 reaches $11.00? I will very likely take 3% of my cash, convert it to physical silver, and store that silver at the bank.

Of course, by tomorrow morning, this could all change. I'm 'just a guy' who is a trader. But that's what I have my eyes on at the moment.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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