Man's relationship to God in creation was based on works. What Adam failed to achieve, Christ, the second Adam, succeeded in achieving. Ultimately the only way one can be justified is by works. (R.C.Sproul) Works! Works! A man gets to heaven by works? I would as soon think of climbing to the moon on a rope of sand! (George Whitefield) “With the wolves you cannot be too severe. With the weak sheep you cannot be too gentle.” (Martin Luther on false teachers)

Friday, October 16, 2009

Gold, the Dollar, and the Markets

Somewhat dated now, with gold having since closed above $1060. an ounce, followed by a slight pull-back, you may find some food for thought at A FIRESIDE CHAT.

We'll see how it goes, but, in an earlier post, Brian Carpenter, The Happy TR, recommended the purchase of UNG, a natural gas ETF (Exchange Traded Fund). I bit - and swapped out of some Fidelity Magellan, one of my Rollover IRAs. With the proceeds, I bought a thousand shares of UNG, at $11.238 a share. It's obviously quite premature (utter understatement), but it was up $350.*, on the close, the next day after I bought. Like I said, we'll see. I expect it to be a medium term play.

*Total, not per share!
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