Week in Review 9/8

So much for Gold Stocks breaking out and September being a seasonally strong month for Gold, after a great start on Tuesday, up $12/oz, Gold was pounded for the next three days.  Tuesday’s close of $640/oz would be a faint memory by Friday as Gold closed at $610/oz. This is a critical week for Gold if it doesn’t hold above $600/oz next stop may be the June lows $560-$570.

Oil also struggled this week closing at $66.25/barrel.  It’s lowest close since April.  On the bright side gas prices are down. 

Below are this week’s results of our regularly discussed stocks:

  WEEK YTD
DOW -0.6% 6.3%
S&P 500 -0.4% 4.1%
NASDAQ -1.0% -4.3%
SOX -1.3% -8.5%
GLD -4.1% 17.6%
GDX -5.8%  
CEF -3.8% 28.8%
USO -3.9%  
PHO -3.4% 9.5
BRIC -2.5% 17.5%
BBO -3.5% 28.1%

SOX – Semiconductor Index
GLD – Gold Bullion Exchange Traded Fund (ETF)
GDX – Gold Mining Stocks ETF
CEF – Gold and Silver Bullion ETF
USO – Oil ETF
PHO – Water Resources ETF
BRIC – basket of 4 country ETFs: Brazil, Russia, India and China
BBO (Big-Build Out) – basket of 12 stocks critical to the industrialization of BRIC

Refer to the following links for more information on above stocks.

GDX, CEF: Link
USO: Link
BRIC, BBO: Link
PHO: Link

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