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OPNewsletter Sep’09 +11.75%, Oct’09 (Opening Soon)

Published on September 9, 2009

OPNewsletter Sep’09 +11.75%, Oct’09 (Opening Soon)

September 9, 2009

83% capital invested, no major adjustment needed, almost 1/3 the number of contracts vs previous month, all the portfolios made money, OPNewsletter delivered +11.75% x -commissions and +10.43% including commissions. As good as it gets. We are starting to look out and analyze opportunities for October 2009 income portfolio. If you are not an OPNewsletter member and would like to join, pls sign-up for the waitlist here.

Another free trade idea (BYDDF) is up over +25% since I posted here.

A lot is going in the markets these days, but above all, I think a worth watching action is that of GOLD. Yesterday it crossed above 1,000 mark just to close below that level. Well, somehow, someone doesn’t want it above $1,000. Even though Dec’09 futures traded as high as $1009.7, it closed below $1,000 at $997.

Dollar broke the support at $77.5 (USD index) to close at $77.26, not too far off though. It will be interesting to see how far it has to go before it reaches it earlier bottom support $71-72 area especially when reserve currency status is on shaky grounds. Read more- UN wants a new global currency.

UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.

It added that the present system, under which the dollar acts as the world’s reserve currency , should be subject to a wholesale reconsideration.

I think next few weeks are going to be interesting especially this upcoming earning season has to deliver. It’s time to see whether or not the “green shoots” have grown bigger or did it turn into “Yellow weeds”; the economy has to prove this particularly if the “six month” hypothesis has any truth to it (that markets turns higher 6 months earlier than broader economy does).

An interesting period ahead.

Profitable Trading, OP

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