The euro jumped higher on Friday when the European Council President Herman Van Rompuy said the euro zone reaffirms its commitment to use its bailout funds flexibly and efficiently to calm markets. As the Euro gained ground the US Dollar fell from grace with commodities such as gold up $15.00 and silver up $0.51. The Asian markets also reversed negative trends to head to higher ground.
In our humble opinion this reaction to the soothing words of a Eurocrat clearly demonstrates that we really have no idea about what is going on and we are clutching at straws. Very little has changed, apart from the infusion of around 60 billion euros and the re-allocation of about the same amount in an attempt to alleviate the prevailing anxiety. This is no more than a band being applied to a patient who has multiple fractures and numerous broken bones.
Its a puzzle to us that those currently cheering the latest announcement to emanate from Europe ever got together with money in the first place.
This initial bout of euphoria will fade faster than Germany's interest in the European Football competition, now that they are out of it.
Do not get carried away with this news, hold onto your holdings in the precious metals sector and don’t be pressured by what is little more than white noise.
Kick back, relax and enjoy the weekend, the Euro compact, fiscal or political is at the end of the road, all that remains is the credits and a rendition of the national anthem.
Proceed with great caution.
Regarding www.skoptionstrading.com. Last week we closed a trade involving the S&P which generated a profit of 25.61% and was opened just 8 days ago, the charts and stats will be updated shortly.
Our trading success rate is 91.00%
91 profitable trades out of 100.
Our model portfolio is up 455.14% since inception
An annualized return of 81.15%
Our annual performance figures are as follows:
2009 We made a profit of 23.89%
2010 We made a profit of 158.66%
2011 We made a profit of 40.95%
In 2011 we outperformed:
S&P by 42%
HUI by 53%
Gold by 31%
Silver by 41%
The 2011 Annual Report by be accessed via this link.
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