Tuesday, February 06, 2007
Sector Spotlight: Gold
Tech is really starting to annoy me here. Instead of fucking around with the likes of Steve Jobs, I'd rather buy some gold.
Right now, I do not like the behavior of the market. It has a sucker feel to it, where only asshat top tickers get poleaxed regularly.
Sure, there are pockets of strength in a variety of sectors, but none look as good as Gold/Silver.
In short, I feel selling some Tech for Gold makes sense here. Furthermore, in general, the Metals look good, with outsized gains in GGB, BOOM, and ACH.
Finally, if the Metals continue to run, the shorts will become victims, trapped in TIE.
NOTE: Please take the new "Fly Survey." Where is Gold going next?
Right now, I do not like the behavior of the market. It has a sucker feel to it, where only asshat top tickers get poleaxed regularly.
Sure, there are pockets of strength in a variety of sectors, but none look as good as Gold/Silver.
In short, I feel selling some Tech for Gold makes sense here. Furthermore, in general, the Metals look good, with outsized gains in GGB, BOOM, and ACH.
Finally, if the Metals continue to run, the shorts will become victims, trapped in TIE.
NOTE: Please take the new "Fly Survey." Where is Gold going next?
Comments:
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Have to disagree with gold. Gold stocks are not confirming the move. Gold usually does best when led by the gold stocks or at least conferming the move in the physical metal. A good move may be to buy GLD and short NEM, ABX at the same time. Not the way to make alot of money but is a decent hedge.
We differ because I don't buy Gold stocks, only the index or commodity.
Therefore, my perspective is based upon the metal price.
Therefore, my perspective is based upon the metal price.
The S&P and the Dow are still strong. I suspect that CSCO is going to save tech tonight, much like AAPL did a couple of weeks ago.
Sorry Indigo but CSCO is leading us lower. Those recent upgrades were the institutions helping a good customer unload their shares. Kinda like the ADBE initiation this AM. Any strength - earnings related or otherwise is an opportunity to sell.
best metal out there is copper..been buying PCU since the split and they have a fat dividend too. start there!
what the fuck is wrong with MVIS can they put out some news other than that bullshit armchair crap!
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what the fuck is wrong with MVIS can they put out some news other than that bullshit armchair crap!
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