May 01, 2006

Rates up, Gold up, Oil up

Same old theme today.

High Beta stocks were punished again on the big up move in interest rates. Google is down 20 for instance. Some would say it is because Amazon switched search to Microsoft from Google. I don't think so because the stock was up at one point today.

Biotech stocks, Internet stocks and satellite radio stocks were the worst today.

I don't see why anyone would own XMSR or worse yet Sirius radio. Those models just don't work in my mind. To own them is to hope for an acquisition. NEVER a good reason to own an investment as that brings the dreaded HOPE factor into investing.

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