Headfake
posted on
May 13, 2008 07:35AM
Another giant market headfake this morning with respect to resources and resource stocks. The realty is that economic growth and commodity prices are steadily strengthening and all the Wall St. talk cannot move the world backward. Once Friday is past (if not sooner) , the resource shares should again strengthen. A simple bottleneck like power shortages in SA. are now causing even Wall St. to go into high gear on Al and related stocks. In the face of the continuous campaign of bias against resource stocks , it amazes me NOT has held up as well as it has, indicating the few buyers out there right now (including me of course !) are happy long term campers with strong hands.