Gold Rocks

Gold decided to have a great day, going up $7 today. This led to a great day for gold stocks in general. We are very pleased so far with our choice of PAAS and BGEIX which were both up nicely today. PAAS was up 60 cents to 15.42 for a 4% advance and BGEIX was up 34 to 11.20 for a nice 3% move. So far BGEIX is up 1.49 from 9.71 for a 15% gain, not too bad for a trade we put on May 23rd, less than a month ago. And, it's a long position, most of you should like that.

The stock market continues to annoy me by trying to find everything bullish. Today oil closed over $56 a barrel and that is stock bullish because oil will fall and you want to be in stocks when it does. There was an article on CNN today with a title of "Oil set for a Crash?" A Morgan Stanley economist said that "I believe it [oil] could correct in the most speculative fashion--it could collapse." And, this after Goldman Sachs comment a few months that oil was poised for a move to $105.

Meanwhile, the Dow continues to keep that 10,500 handle and we are having a hard time staying awake for this. We were pretty sure that the intermediate top would come into sharp focus this month, but the focus is blurry at best. We still maintain that the highs of the year are in place and will NOT be broken in our four indexes, Dow, SP500, NASDAQ Comp, and NASDAQ 100.

As noted in our email version last night, this will probably be the last Blog until Monday evening, June 27th. If something truly awe inspiring happens in the stock market, I may have to post another blog.

In the mean time we are fairly happy with our positions especially our gold positions. We hope you were able to take advantage of that, too. We tried to bring you through the process to buy BGEIX over a few months. We picked a pretty good point to enter, we saw a clear bottom given our signals and we pulled the trigger. We may have been a little late but it wasn't very late. BGEIX hit a low of 9.34 on May 16th and we bought at 9.71 a week later.

Have a great weekend and a nice week off next week. Please come back after my Monday evening post on June 27th. I am hoping something happens before then, like tomorrow when we get quadruple witching. Maybe tomorrow we can get some better volume just because of that, something, anything, would be good.

Dow Industrials: 10,578.65 +12.28
BGEIX: 11.20