Gold worked big for me today as did India. Back over $580 on the metal despite all the stagflation worries (myself included).
I sold a portion of my gold stocks today at the close so as to bring down the allocation closer to 5 percent. It has worked out well and the stocks could easily bounce another 10-20 percent.
Real Networks has hung in well and really exploded today hitting multi-year highs (RNWK). Nobody believes in this old pig anymore but I own it based on it’s price pattern and it looks good.
Other than that, what looks good is PAWN SHOPS and GUNS. I own some Smith and Wesson (SWB) and posted on that a few weeks ago. It is up 10 percent since my post – despite the matrket being thumped.
Hard to get excited about the mood of the market when Guns and Pawnshops are hitting all-time highs. I even saw crappy Kroger’s hit multi-year highs so add boring, low margin grocery stores to the excitement list.