Stock Operator’s Page — Oil, Gold, Silver, GKP:LSE

Hi Guys, Monday again.

I reckon oil is bound to make it to $150, but there is talk of Obama releasing oil reserves from the strategic stockpile.

HOU.TO The Canadian oil ETF made C$7.61 Friday, so a good profit, but it will come off now as the potential release of the reserves may affect it.

Gold: Has been going for a belt upwards, but it is linked to oil, so it may weaken, be careful.

Silver: Buy on weakness. It’s a manipulated market. The big New York houses control the price keeping it down, but it will bounce eventually. Buy on dips below $34 is best.

GKP:LSE: This oil stock I suggested went wild from £1.44 to £4.50. Then it came back to $3.32 on profit taking, but there is a large base now at £3.50-£3.80. So that may allow it to spring to £4.50 again. It’s £3.53 Monday morning GMT 10.46 am.

Oil and the metals are the only real game in town.

The Dow: It looks top heavy, but Bernanke is pumping in free money like crazy. Another $349 billion recently ear marked to hold up his mates on Wall St. So the Dow can’t fall much, but it will drop like a stone if oil hits $150. So wait to short it.

SPXU: The ultra short S&P 500 looks very cheap at $10.06. Might be worth a nibble, and then buy more later.

Bye for now Stuie Wilde…

(www.stuartwilde.com)
2012 Stuart Wilde. All rights Reserved.