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Message: CNBC Fast money and Scarducci gold is overbought

CNBC Fast money and Scarducci gold is overbought

posted on Mar 10, 2010 06:23PM

On Fast money tonite a hedge fund manager, Scarducci sorry only caught his last name, was asked if as a hedge fund manager what he thought on buying gold. He stated that his company feels that gold is oversold at this time. He also went on to explain the reason was that the economy doesn't look like a uptrend but may be in deflation mode. So they feel that they should keep some on hold and not in the buying mode. When asked about JPM's , hold on, just a little longer , you ready,he said that they we were undervalued. Thats what I like to hear. I hope they continue to stay away from gold and maybe I should find out more about this company. WHY! Because we are sitting on one undervalued stock ECU. But I still believe more production will be the key affect for us to soar. Not that we aren't in the running we are. What I don't get is why you never hear them talk about silver. Sure maybe for a moment once in awhile but that's it. How do they expect technology to grow without silver? I really believe we are going to wake up soon to that silver lining it is inevitable. Still a lot of global demand for cellphones,computers, camera's, and a whole lot of green energy. I am sure the Chinese ,India, Brazil, and the Aussies are happy though becuase you know they want to build more reserve. Or does the Fed think the rest of the world really think that the dollar is undervalued.? I'm no economist but even half of what they gained back in the last year could put most American's against the wall . Maybe I need to find a nice Canadian woman.LOL. I am not like that. I just wish that the regular joes in this country could get back some of what the thieves on wall strret took from us. One more comment I heard today. 16% of Americans became millionaires last year. HOW? Could they be people from wall sreet that got out before they filled the state prison system. But if any of us believe the economy will be moving hold your position because I really think ECU wants to come out on top. And they got the goods, just need a little more production. I feel a little better this year for sure knowing we are producing. Keep the Faith all. And good article Bujjai.

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