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February 22, 2005
Homebuilders fall, Golds jump Tuesday, Feb 22, 2005
After a quick survey of the action in today's market, noting my remarks on Saturday, can you really say you are surprised? More importantly, do you now see why I say that Larry Klown, of CNBC's Klown & Company ought to stick to politics (5pm ET in case you happen to watch CNBC for the entertainment value)?
Did I not write to you on Saturday that, "At this point I think Larry Kudlow could stand on top of his CNBC desk with a megaphone and I don't think the Gnomes of Zurich are going to hear anything. They might laugh, but I think that, rather than get killed in the U.S. bond market, they'd rather have their size holdings in gold, or some other currency. Sorry Larry."
You know, they say I used to be part of that crowd known as the "Illustrious Illuminatae." That was back in 2004 when I was usually seen flying around on a broomstick.
Seems like such a long time ago.
Anyway, before I outed myself, I promised never to expose my colleagues in the "ultra-secretive and powerful Illuminatae, that group of very very rich and powerful businessmen" who know tomorrow's news today.
They say they'll leave me alone as long as I make them money.
So I told them to buy gold and sell U.S. stocks and bonds, dollars, and homebuilders. What fun.
So, what happened today to the homebuilders?
LEN "3.67 percent
DHI "4.26 percent
PHM "3.85 percent
CTX "4.45 percent
TOL "3.99 percent
KBH "2.01 percent
HOV "4.70 percent
MDC "4.04 percent
RYL "4.48 percent
BZH "3.91 percent
And, then, what happened to the goldminers?
NEM +4.78 percent
ABX +4.04 percent
PDG +3.77 percent
GG +4.56 percent
GLG +3.33 percent
KGC +8.24 percent
WHT +4.83 percent
AEM +4.66 percent
HMY +3.49 percent
MDG +6.44 percent
Thanks for your money, today, Larry. I'm real happy you got that wealth transference political thing down pat, proving once again that economists, politicians and academians should stick to their knitting.
I think today was actually a five-bell day. Ka-ching!
Something I heard today on CNBC resonated with me and should with you as well. The discussion was about what to do in retirement, and I thought, so who's retired when you've got the capital markets to trade?
I can't think of a better thing to do in life, particularly in retirement, and for many people, it's great they are able to keep trading into their 80s and 90s.
But, then, the earlier you start to learn "how" to trade -- effectively that is -- the earlier you can retire. Freedom 45 anybody?
Posted by Posted by Bill Cara on February 22, 2005 06:34:50 PM | Category: 25 Cons Discretionary , Goldminer Producers