Last week, I explained the nuts and bolts of covered call investing – a bullish strategy that focuses more on returns than it does on risk.
Profit taking was the name of the game during Thursday trading on the Canadian Markets. For the tale of the tape, the TSX Exchange gave back 1.74%, while the TSX Gold Index lost 0.60% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, kept the drive alive by adding 0.50% with the advancers edging out the decliners by a 454 to 424 margin on 193 million shares traded.
Karim Rahemtulla of the Smart Profits Report is on a mission. He is here to rescue you out of the darkness, doom and gloom and into the light on investing in the “brutal bear” market.
Karim Rahemtulla from the Smart Profits Report says that putting your money in gold mining companies will help you milk your investments, not physical gold.
Yesterday in the UK publication, Metro, Jim Rogers advised investors to move to China if they spoke Chinese. Today, I have my own piece of cultural advice: Tell your children to take French and German in school. And while you’re at it, grab your own Rosetta Stone guide to foreign languages… You might need it sooner than you think.
Byron King from Whiskey and Gunpowder thinks that we’ll see huge market declines in part because of a huge drop in consumer spending. As volatility increases and faith for the U.S. dollar circles the drain, two gold companies should soar.
The gold market was obviously open in the U.S. on Martin Luther King Day. But not much happened except a continuation of the decline that began at 11:00 a.m. in London on Monday…which lasted until 3:00 a.m. New York time yesterday…shortly before London opened on Tuesday morning. This decline managed to shave about $18 off the gold price during that period of time.
No surprise from the Federal Reserve. Well, not really. Bernanke & Co. did as everyone expected them to do and slashed U.S. interest rates. But it was the size of the cut – from 1% to a record low of 0.25% that caught some folks off guard.
Gold prices are up slightly again today, to $840 an ounce. The yellow metal has jumped sharply from $750 just weeks ago. Andrew Snyder says a declining dollar and inflation fears will likely propel gold dramatically higher next year. He recommends three ways to profit from this spike.
Traditionally safe dividend stocks have been whacked along with everything else by this credit crisis, as struggling companies are forced to slash payments. But David Newman says Reverse Convertible Notes are little-known securities that truly guarantee a steady income. And you never have to own the underlying stock…