Gold Rearing Up to Run

Wednesday, March 03, 2010

  • After being up 50 points yesterday, the market trickled off into the close to close up just 2 points in the Dow. The only notable action came from Apple ($AAPL) which reversed after a strong 3-day, 13-point move into $210 per share. Shares fell into negative territory in the early afternoon before rebounding to close near breakeven.

  • Gold ($GLD) is back on the move and I'm liking the long prospects more and more. After 3 months of consolidation action above previous all-time highs, gold looks ready to continue its run.

  • Ford ($F) outsold its chief American rival, General Motors ($GM), for the first time in over a decade with a 43% jump in February sales numbers to 137,644. This represents a YOY market share increase of 3% now up to 17% of the market.
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