Thursday, March 19, 2009

Market Comments

Well, hope someone reads this! Yesterday, the Federal Reserve announced the purchase of $300 billion worth of debt, and in turn, another massive printing of US$. Within minutes of the announcement the markets took off like a rocket along with gold which shot up from a low of $883 up to $940. As I type this, gold is still climbing.
Normally I would only do one stock pick of the day, but the recent rise in gold, along with the Feds massive printing of US$ warrants several.
My picks of the day:
  • San Gold - SGR.V (They just released news this morning)
  • IamGold - IMG.T
  • Northern Dynasty - NDM.T

Of course, if you're adverse to choosing individual stocks, HGU, the Horizon Beta Pro Gold bull index would also be a good choice, although this can be extremely volatile and it should have been purchased yesterday when gold fell and began to regain some of the losses.

Good Luck today!

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