Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Monday, April 23, 2007

Monday Chart Action

Let’s look at gold …Gold is breaking out. It is pulling back a bit this morning – a great time to get in.

Now for crude oil ...

Crude oil still looks like a “buy” to me. We may see prices hit a short-term peak before the summer driving season, but with demand rising and Mexico's supergiant Cantarell oil field in a near-crash, the long-term trend is up.

Now let’s look at the CCI. This is what the CRB Index was before the CRB became so heavily weighted toward energy. The CCI is an equally weighted index of commodities.

Here is the one everyone watches – the CRB. Notice how a resurgence in crude prices is helping the CRB perk up.

Finally, let’s look at one of the uranium producers in the RHAT portfolio.

As you can see, it sold off recently, as did all uranium stocks. But that was just profit taking. Long-term holders are holding for a good reason.

Check out my new gold and energy blog at