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While many investors look to the Department of Labor job statistics, the Federal Reserve FOMC meeting minutes or company earnings to get indicators as to how the stock market will perform in the near future I like to look at some more creative and alternative economic indicators for investing insight and predictions.

One such alternative indicator is the gambling statistics at www.tradesports.com.  While I don’t buy contracts or “gamble” on outcomes, I do like to see how gamblers out there are perceiving the world.  Recently, I took a look at “action” on the Dow year end contracts and the results are interesting.

For year end 2006, many are betting that the Dow will close above 11250 but below 12000.

For year end Fed interest rate, many are betting that the Fed rate will be above 5.25% but not much higher than 5.50%

For year end the Euro/USD rate, many are betting that the Euro will be above $1.25 USD but not much higher than $1.2750.

For year end, GOLD betting is that it ill stay above $520/oz but not much higher than $600/oz

Light sweet crude for Feb 07 is strong above $50/bb but not much more than $60/bb.

I like to look at this data because it represents the extremes of speculation so it provides crude end points for some statistical “Bollinger-like Bands” for each data set.

This helps reconfirm my feelings about GDX as a potential covered call yielding 8% from now till December 07.  I’ll keep you posted….