The stock market could not overcome the disappointing GDP release and closed down on Friday, but fortunately it was not enough to ruin another positive week. With 10 more days before the mid-term elections, I am betting the “powers to be” will keep the market propped up. We need happy voters in the booths.
It was a great week in the commodity patch. Hopefully, my article “The Commodities Bull Market is Back” does not come back to bite me. However, with oil closing the week over $60 per barrel and Gold breaking the $600/oz psychological barrier it was much to be excited about.
Below are this week’s results of our regularly discussed stocks:
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.