Week in Review 12/15 – Silver Thumped….
miked | Dec 18, 2006 | Comments 0
The year is shaping up to be a great one for the broad indices. However, it is quiet odd that technology (+11%) has lagged the DOW (+16%). Historically, tech leads the market. Wall Street brokers are being rewarded handsomely for their efforts. Goldman Sachs is handing out $16.5 billion is bonuses for an average of $622,000 per employee. Now that’s what I call Holiday cheer.
In an attempt to keep a floor at $60 per barrel, OPEC agreed to a cut production in February. This lifted oil up 2% for the week. Metals went in the opposite direction. Silver out of the blue dropped 7% on Friday. That is taking a joke too far. Can you imagine the DOW dropping 7% in a day? It wouldn’t happen! Someone out there is playing games to keep Main Street out of the commodity market.
The Fab Four from the article “The Commodities Bull Market is Back” was up 1.9% as a group for week. Once again, it was led by Hudbay Minerals. Since mentioned in the article on 11/6, Hudbay is up 14%. Nearly 6% of that gain was from this week alone. The week would have been much better if it wasn’t for Friday’s 3% haircut. Hopefully, it will not carry over for the new week.
Here are the rest of our regulars:
| WEEK | YTD | |
| DOW | 1.1% | 16.1% |
| S&P 500 | 1.2% | 14.3% |
| NASDAQ | 0.8% | 11.4% |
| SOX | -0.3% | -0.8% |
| GLD | -1.9% | 18.3% |
| GDX | -1.8% | |
| CEF | -2.7% | 35.7% |
| USO | 1.3% | |
| PHO | -0.1% | 21.6% |
| BRIC | 2.6% | 43.7% |
| BBO | 0.5% | 42.6% |
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.
Filed Under: Portfolio Update
