Thank God It's Freakin' Friday
Man, I'm so glad I recommended two energy stocks in Red Hot Resources yesterday. Zoom, zoom! Sure, RHR subs were stopped out of their bearish hedge, but the hedge was just insurance against a further slide in the market. With the White House throwing money at the credit markets, it will probably be a spell before we see a big slide again. It was also a good thing to exit the hedge positions in RGS and RGS this morning at the open. The Dow is up 180 points as I write this. Holy moly! The stocks in the RCS portfolio are rallying nicely, too. The Australian stocks in RGS rallied nicely overnight -- who knows what next week will bring?
Make no mistake, the White House isn't fixing the problem. The President's plan won't address the insolvency of marginal home buyers. The "system" is illiquid (and that "problem" was addressed by the central banks two weeks ago), but the "borrowers" are insolvent. That said, the market loves cash infusions. Whoo-hoo!
Speaking of money, I thought I'd point out a new book by two of the best currency traders I know, and I know a lot of them. I worked with Boris Schlossberg and Kathy Lien when I was the Sovereign Society. They have a new book coming out: "Millionaire Traders: The Book."
In the book, Kathy and Boris interview 12 people who started with as little as $1,000 and turned that into six- to seven-digit fortunes.
Boris tells me: "The official release is Sept 10th but its already Amazon top 50 in investing." You can find that link HERE.
Oh, and here is an interview with HoweStreet.com that I did yesterday: CLICK HERE.
Make no mistake, the White House isn't fixing the problem. The President's plan won't address the insolvency of marginal home buyers. The "system" is illiquid (and that "problem" was addressed by the central banks two weeks ago), but the "borrowers" are insolvent. That said, the market loves cash infusions. Whoo-hoo!
Speaking of money, I thought I'd point out a new book by two of the best currency traders I know, and I know a lot of them. I worked with Boris Schlossberg and Kathy Lien when I was the Sovereign Society. They have a new book coming out: "Millionaire Traders: The Book."
In the book, Kathy and Boris interview 12 people who started with as little as $1,000 and turned that into six- to seven-digit fortunes.
Boris tells me: "The official release is Sept 10th but its already Amazon top 50 in investing." You can find that link HERE.
Oh, and here is an interview with HoweStreet.com that I did yesterday: CLICK HERE.
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 12:31 PM
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