Tuesday, April 01, 2008

That wasn't supposed to happen...

All of the sudden gold just tanked!? That was not what I had planned, it was supposed to pass to $1000 mark and keep going. At least up to around $1200-1300...

That's not all though, Goldspring is now below what I bought at, Starbucks haven't recovered yet and neither have Boeing - well the two latter probably wont recover for a very long time...unless Boeing can somehow get a big contract to counter-weigh the one they lost to Airbus. Starbucks...well...they probably need to start selling liqueur or something if they're to have any luck in a recession.

Good news is that KGLJ is back up (should have bought some when it was really low yesterday...if I had more funds than a measly $14 that is) and Apple has recovered as well. Unfortunately I'm still in the red though not as much as before.

The ever-returning question is here again though...should I sell some of my portfolio? Starbucks is a ripe candidate to be sold at a loss...i doubt we'll see any improvement there for a long time. Boeing and Countrywide should probably have been sold some time ago, but then again...Boeing has load of orders to keep them afloat in a recession (well...unless the customers can somehow get out of the contracts) and I haven't yet figured out what will happen to countrywide except that they're being bought by Bank of America.

I should have an extra look at the state of those three...but I'm sticking to my gold ishares for a while longer, hoping it's just a temporary dip as people flock to buy financial stocks (despite further reportings of huge writedowns...strange...)

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