Seeking Alpha

Futures slightly higher after inline jobs number

  • Stock index futures add a little bit to gains following the inline jobs report, with S&P 500 (SPY) futures +0.2% and Nasdaq 100 (QQQ+ 0.25%. Russell 2000 (IWM) futures are ahead by 0.4%.
  • Treasury yields are bopping around a bit, but the 10-year is unchanged at the moment at 2.57%. TLT +0.2%
  • Gold has added about $1 an ounce since the report, now trading at $1,255. GLD +0.1%
  • Lack of volatility continues in the currency markets, with the dollar (UUP) little-changed against all the majors.
  • Previously: Job gains of 217K, inline with estimates
  • Previously: More on jobs: Participation rate holds steady
Comments (4)
  • Doug Eberhardt
    , contributor
    Comments (2848) | Send Message
     
    Gold now trading lower. Gave back most of yesterday's 5 minute move higher. Yes, 5 minutes.

     

    Will be writing article soon (not for Seeking Alpha). Still negative as some of you know. http://bit.ly/QfEw0M
    6 Jun, 09:43 AM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2848) | Send Message
     
    I'll include my bullish take on gold as well and give some of the indicators I look at to form my opinions. We are going to bottom at some point. We all know this. Just trying to decipher where so I can write my damn all-in article.
    6 Jun, 09:48 AM Reply Like
  • howard26
    , contributor
    Comments (167) | Send Message
     
    Doug,

     

    Looking forward to your next article, Doug.

     

    As far as an "all in" article, could you please offer an opinion regarding how investors might want to "average in" to their positions along with your "all in" call? Many of us may want to purchase in 3 or 4 "installments" rather than do an "all in".

     

    Thanks,
    Kyle
    6 Jun, 10:11 AM Reply Like
  • Doug Eberhardt
    , contributor
    Comments (2848) | Send Message
     
    Kyle, I am a firm believer at present in dollar cost averaging into a position and that has been my primary recommendation for awhile now.

     

    Whether the price goes lower or higher, your goal is to buy on the dips. My two busiest days of sales last year were in April and December when we had those two major dips. Those who bought on those days have done ok.

     

    I do have others who just periodically buy without regard to price, fully expecting future prices to rise. They want an exposure to gold/silver for a portion of their assets.

     

    I am more of a fan of simply buying on the dips. Dips always come.

     

    Hope that helps some.
    6 Jun, 11:02 AM Reply Like
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