Money Matters Update July 15, 2010. Pledge Drive and market news.

Marc's notes:

Big turnout for our MINI MEMBERSHIP today with 56 new pledges, most for the newsletter and a bunch for the Money Matters Margarita Dinner. Many elected for website access as well. We raised close to $4500.00 in 2 hours. GREAT JOB AND THANKS!

We will contact all those who pledged shortly with log on information for the website and the dinner and put you on the newsletter as soon as we get the paperwork done.

I will be writing a welcome newsletter soon and on it will be all the current recommendations of holdings for all the newbies. You old timers will appreciate the summary of holdings as well.

Markets are looking like a tumble is now ready. The rally up from the 9,000’s is most likely over. Disappointing news on the manufacturing front and unemployment and some earnings should move the markets lower again. The rally is petering out me thinks.

Remember Fall is the time for market falls so we will keep a close eye on the DOW in the coming weeks. News from Euro land is not encouraging although the Euro is rallying off its lows the last 3 weeks. I suspect this has a tad longer to run until another news item from a Euro nation dampens the hope.

Gold and silver are oscillating so add physical anytime but careful on stocks. Our mutual gold funds are ok to add. UNWPX  TGLDX  USERX  and there are others.

Natural gas had a nice pop today and I have been saying you can add positions here for a long term hold.  UNG  GAZ or UNL.

For you gamblers out there, the Chinese market is ripe for a fall, especially if our does. You can play this with FXP   a short China ETF. This is a leverage short fund so this is a volatile gambler play only and will lose value over time if the China market doesn’t go down. Careful- Gamblers only. It is in the 30’s here and that’s a buy. Unload on any price above 45 or more.  Downside is probably 30, to mid 20’s  (its 38 and change today). You could be brave and hope for the 50’s.

BP is volatile and gamblers could play both the call and put options. I am buying the stock and selling the covered calls (See Money Matters Show  #33  COVERED CALLS on how to do this).  I bought BP at 33 and sold the 34’s twice. Now with BP at 37,  I will lose the stock with a 10 % gain in 2 months. Not bad. I will buy in again next week and again sell the calls.

Look for volatility to increase in the markets. This is a gut feeling only and I hate going on those but indicators are mixed and fudged anyway so you really can’t depend on anything in the media now.

The new financial regulation bill is passing. No big deal. No matter what they cook up, they will break any and all rules if a crisis comes just like they did in 2008 and 2009. These bills and regulations and rules are only good until they decide to break them and make an exception due to a crisis. Since they broke so many rules in the last crisis, I put little faith in any new rules now. These rules will be in effect until they aren’t. The AUDIT THE FED part of the bill was neutered by lobby pressure and your paid off congressmen, so now the FEDS have MORE POWER and just as much secrecy. A sham is all I can say.

Stay tuned for more market news soon.

All for now.
MARC




 

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Where I buy some of my gold: What I call “Possession Gold”.

 

Monex Deposit David Feldberg x 2216
4910 Birch St., Newport Beach Ca 92660
1 (800) 949 4653 (GOLD) ext 2216 You may refer to Marc Cuniberti and Money Matters and David will know what Marc recommends.

Take delivery and store in a safe place. You may have 25 % of this amount in silver and the remaining 75% in gold. I usually buy only generic 1 ounce rounds or ounce bars, no collectibles. You may buy any 99 % pure gold or silver assets but pay no more then a few percentage points over spot. Again, buy NO Collectibles, No Margin account, No Commodity accounts. Take delivery of standard coins only.

 

JH MINT
13241 Grass Valley Ave.
Grass Valley, Ca 95945 (530)273-8175

(Near the Grass Valley Airport off Loma Rica Road)

Tell the salesperson you are a Money Matters Listener and you will get special discounts,(market conditions permitting). Normal Gold prices are anywhere from 6 to 11% over New York Spot price. If you are selling, you should get close to spot when you sell. Buy only standard, or popular gold or silver coins. I do NOT prefer the generics but would rather have you buy Silver Eagles or bars. When buying silver, the mark up will be a bit higher than gold. JH Mint posts prices on its board over the sales counter so you can see spot at any time. I have dealt with JH MINT myself and found them to be easy to work with.  You can pay in cash and you will remain anonymous.

I usually buy Gold Eagles, Buffalos, Kruggerands, Silver Maples. Gold Pandas Generic Rounds. Peace Dollars or Morgans. You may also use my web contact:


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