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.