March 07, 2006
Bought a few gold shares and that is about all. Some stocks of mine are getting close to their long-term stops. Never fun.
I would not be surprised to see a big down day. Homebuilders look completely finished. Wall Street has done another fantastic job promoting these and selling every last share to the small investot the last few years. Some of the these stocks are back to 2004 levels today.
I imagine gold stocks and oil stocks have a few good years as they are underowned and have a long process before they are distributed to the masses.
The most confusing stock is Fedex. Love the company, but if the markets are topping and the price of oil is still high and the consumer is stretched, how come this stock makes all-time highs. When it is this difficult, it is best to watch from the sidelines.
A trade is developing though, a big one.