Wednesday, April 20, 2011

Market Comment 04 20 2011

Good earnings reports vaulted the market higher today. The market opened up and remained up into closing. All sectors were winners.

"The rumors of my death are highly exaggerated." I don't know if Mark Twain was the first to utter these words, but they could be applied the energy market today. After Goldman Sachs essentially issued a sell recommendation on oil and commoditites last week, the sector came roaring back today.

This morning I took a position in Haliburton (oil service company) and BHP Billiton, a global resources company as well as taking a position in the energy ETF, XLE yet again. I also added to our position in PRPFX (Permanent Portfolio). PRPFX is a unique fund which has positions in gold & silver bullion, high growth stocks, treasuries, etc. Permanent Portfolio Fund has a set it and forget it type quality.

The GWM Inflation Hedge folio continued to gain as silver is reaching escape velocity.

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