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MODAR Performs Again As Markets Slump
Posted on 09/25/2006 16:40:44 | Link | Post Comment
0920 EDT Friday July 14, 2006
Good Morning: Yesterday turned out to be a pretty awful day for stocks as support levels were taken out on the downside, but this failed to quench enthusiasm for the kinds of selected issues that is MODAR's domain and once again we were able to book some considerable gains, in addition to getting some multiple shorts off in the S&P and Nasdaq, although belatedly so. Meanwhile our short Lumber position ended up virtually "Limit Down" and Pork Bellies were locked "Limit Up" for the latter half of the trading session right into the close as we added to longs in both Live Hogs and Bellies for what could turn out to be further follow-through gains today. Grains were a disappointment unable to get out of their own way and have turned somewhat negative, however remaining extremely volatile and difficult to trade normally.
The major movers for the day turned out to be the Energy sector as Crude Oil finally soared through new contract highs, to new all time record highs at $78.40 along with Gasoline. This compelled Gold and Silver to trade sharply higher in the evening session on Middle East turmoil and threats of war emanating from a situation spinning out of control and risks of supply disruptions occurring in the Energy World.
For today, it should be a good day for Precious and Base Metals and Gold related issues. Once again, many of these issues have not yet caught up with recent price rises and appear increasingly undervalued. The fact gold and silver have recovered this much is notably bullish.
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