I’m writing you today from a seat high above the Miracle Mile in downtown Chicago. We’ve had beautiful weather so far for the annual Taipan Publishing Group Conference. The Midwest girls are having a lovely time showing off their new purchases as they saunter up and down the block in summer dresses.
But it’s inside for us, dear reader. We are listening to talks on the slow demise of the dollar and the rise of commodities.
From Chinaview:
Gold futures on the COMEX Division of the New York Mercantile Exchange ended higher on Thursday as dollar dropped more on discouraging retail sales and jobless data, fueling the yellow metal's hedge appeal. Silver and platinum both finished higher, too.
Gold price for December delivery rose 4 U.S. dollars, or 0.4 percent, to finish at 956.50 dollars an ounce.
At 11 this morning (CDT), yours truly will attempt to explain why the price of oil continues to climb despite the fact that oil supply is up… and oil demand is down.
The AP reports:
Oil prices moved closer to $71 Friday as investors brushed off bad U.S. economic news, betting instead that the American economy, the world's largest crude consumer, will recover later this year.
Oil prices have oscillated near $71 a barrel for about two weeks as investors weigh lackluster U.S. consumer demand against expectations the economy could rebound strongly next year from recession.
We have a great turnout with about 150 Taipan Publishing Group members showing up to hear the truth about the markets. Last night most of us had a tour of the Chicago Board of Options Exchange. It has changed a lot since I was last there about eight years ago. There are no hand signs anymore. It’s all done on handheld computers.
The traders seemed excited about the fact that the CBOE was going public – as many of them would sell their seats for about $3 million and retire.
After the tour it was off to Carmine’s, where the people eat and watch the rich and beautiful. Over the last few days we’ve had Jay Leno sightings as well as a sighting of Oprah’s boyfriend, Stedman Graham.
Last night at Carmine’s – with no disparagement on its food I assure you – I happened to choke on a piece of prosciutto-wrapped veal. As my eyes bugged out and I pounded on my chest, Bryan Bottarelli of WaveStrength Options Weekly fame rushed over and gave me the Heimlich. The meat shot out of my gullet, flew across the table, and wedged in the ample cleavage of a dashing young lass.
Alas, at this point I was too embarrassed to retrieve the offending article. But my embarrassment disappeared when a few of us test-drove the new Bugatti with its 16-cylinder, quad-turbo engine. At 1001 horsepower and a top speed of 253 mph, it might be worth trading in my yellow Hummer for. I wonder if it would qualify for the “Cash for Clunkers” program?
Other Articles Related To This Topic:
