The Golden Sunrise
The essential morning read for investors!
Golden Sunrise is the Golden Surveyor’s broad-based market and world view.
Written daily 4am-7am by markets information specialist GS John!
Today’s Golden Sunrise
Tuesday, June 16, 2010
Hours of daily research consolidated for you
Market Upgrade, Peter Lynch Revisited
Investor’s Business Daily upgraded the market from Market in Correction to Market in Confirmed Uptrend. Yesterday’s sharp market rise on higher volume constituted a Follow-Through Day and is the basis for the change. The market doesn’t look that good, the news doesn’t sound that good and the overall situation doesn’t feel that good but the evaluation process calls for a change and the paper has duly made it. These guys have been pretty good in there overall timing calls recently so it certainly justifies keeping a close watch and responding appropriately.
Peter Lynch who had such great success managing to the Magellan Fund to enormous size by continuously achieving superior market performance results who famous for keeping an eye the world around him and investing accordingly. The must have fashion needs of his teenage daughter and her friends provided a number of trendy ideas that he capitalized on.
As I had mention, I am in Seattle assisting with some large relocation projects that will continue for months the duties involved huge amounts of walking and standing and very, very irregular hours which means my research and writing hours have been turned upside down. Coupled with the time zone changes (3 hour differences from the East Coast) has added to the complication.
But to prepared, I needed comfortable shoes for the purpose. At the first location, the recommendation was for the Skechers Shape Ups which had just started making them for men. The only had a few pair because the inventory they had sold quickly and they did not have my size. Second place, did not have Skechers but had another pair which worked and I bought, but the salesperson’s real recommendation was the Sks and gave me an idea where to find them. Did so, have a pair my size, fit perfectly, had bounce and I support and I bought them as well.
The first few times I wore them, people noticed them and asked how I liked them, thinking about getting them. Others told me they had them and liked them, several commenting they had more than one pair. Then I saw a blurb on their earnings growth. And check the IBD rating which was very, very high. Bought some shares…ran up, sold have…now have a really low cost in the rest but the stock continues to rise…new highs and expanding volume.
Looks ready for a little retracement, but this truly a consumer discretionary play which will tell us a lot about confidence going forward.
Still like Gdxj, and owning physical gold even more. The market seems to be more on perceptions of whether liquidity will be provided as the deflation/inflation guesses continue.
Sleepless in Seattle because of a hectic schedule but enjoying every minute.
JohnR
Goldensurveyor.com
