Wednesday, October 1, 2008

Quiet Day! IFCN Wk 43 – Wed- Equity: $1,492.80

Obviously, everyone is waiting to see if a vote is going to succeed on the Bail-out. As volatile as today was, it was relatively calm compared to those previous.

The market's mood is like the family waiting room in a maximum security prison 1 hour before an execution, everyone agonizing to see if the governor will indeed commute the prisoner's sentence as promised.

We will watch and wait. What else can we do? No one asked us when the debts were made and no one asked us if we wanted to pay for it.

On a brighter point, buying the extra silver yesterday at $12.00 was good. Silver roared up to just short of $13 this morning. It seems to be hard to keep a good metal down. At least today....


Week's remaining FirstStrike trade:
  • Gbp/Usd: Short @ 1.8230, stop 1.7940. (50% profit stop- At least 290 pips)
FirstStrike trades not stopped out before Friday-- exit on Friday just before 15:00 CST.

Current trade equity is: $1,312.80.

Silver position equity: $180.00. (Current silver price: $12.37/average $11.17)
TOTAL Equity: $1,492.80

Not much to do but sit watch. Perhaps we'll get a bottom in the Euro and Sterling if they ever get this bail-out package ok'd. If not getting the package done makes the markets go down, it could be a sell-the-news-buy-the-fact situation.

See you tomorrow.

Joel Rensink

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1 comment:

Anonymous said...

Very interesting, great blog!