Market Update

Just a quick update on my thoughts.

• Equity market averages have been consolidating.  The Dow Jones Industrial Average looks like it is in a tight trading range of about 300 points.  Look out when it breaks either way.
• On this post from December 3, 2009, I reported that Gold was just about as overbought as it could be and I was looking for a short-term target of $108 based on the Gold ETF with the trading symbol GLD.  It has hit that target and even a little more.  (Note that on that previous post, it appears that the link I inserted for the GLD chart updates every day so to know what the chart looked like on December 3, 2009, you would need to look at an archived chart. It looks like GLD is now consolidating nicely and it may be able to make a move in the next week or two.
• The Crude Oil ETC (USO) appears to be short-term overbought.  The risk/reward appears to be favorable to enter a position where you would benefit from a downward movement. I am not doing anything at this point. If the market moved another 5 percent higher, it seems like it would be even more likely to fall.

WikiEducator: Check it out as a resource

For those who are interested in education resources, I found WikiEducator.org earlier this week.  It appears to be built on the MediaWiki software which is used for the popular Wikipedia site.

Click here to view what Copyright Issues there may be under the Creative Commons license.

My other half may just start contributing to this blog!

My "other half" has a lot of responsibilities and with that comes a lot of experiences.  I have been trying to get her to contribute to this blog and she just may start doing that in the near future.

I think some of the things she would write about is homeschooling our kids, cooking, crafts, and music.  I am sure there are tons (well maybe many) other things she could write about.

I think we could collaborate on some projects such as her writing about different recipes she has tried while I take pictures of the process and the end result.

Stay tuned...

Photo Blog has been launched!

Just in case any one is interested, I launched a photo blog which can be found here: http://leftyphotoblog.blogspot.com/

It has been around for over a month, but I finally started to upload some pictures.  If you see the first post, I had been mulling over what should be the "first" post to get things started.  In the end, I was just fighting internally with myself and not able to get the project started.

Check them out and hopefully you will find something you enjoy!

Stock markets are trading in a very tight range

Not sure where things are headed at this point.  A very tight range is now appearing which means it typically could break in either direction (hopefully up).

As a side note, I only held my long position for a short time and locked in my profits.  No complaints.

Suze Orman's advice from tonight

I know that a lot of people don't like her, but Suze Orman was on the late night Channel 7 news program.  Here's some of her advice:

• If you carry a balance, opt out for a store credit card or a credit union credit card ONLY if the interest rate is cheaper.  Just remember to try and not carry a balance.
• Avoid promotions.  Make a list and don't buy or spend more than you planned "just because" it was a deal.
• Sometimes you can afford it.
• Define the things around you instead of having the things define you.

You can buy some of her books and other products at: Amazon.com's Suze Orman Products

Looks like the DJIA is setting a base for a 400-point move

Just looking ahead...  It looks like the Dow Jones Industrial Average is setting a base to make a potential move.  Sure it may have a little more consolidation in the next day or so, but if everything continues as it has been, we could be around 10,750 in the next 10 trading days.  Call it an early January effect, a Santa Claus rally or what not.  Maybe it will be part of the $10 trillion sitting on the sidelines that I addressed in this earlier post.

At this point I think the risk and reward is leaning toward accumulating positions and increasing holdings.

Disclaimer:  I have a position where I benefit if the Dow Jones Industrial average increases in value.