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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Bearcatbob who wrote (40837)3/25/2005 10:36:34 PM
From: Taikun  Read Replies (1) of 206322
 
Bob,

This week's call is basically an extension of last week's. He's telling investors to not to commit new funds at the same time as he's admitting the best performance of their portfolio was in energy and mining names, which are a small portion of their portfolio, so they haven't enjoyed much upside.

Remember last week he made the 'this time is different' call on the mining sector. I responded that I was concerned it might be a bad call.
Message 21131050

After today's call, including the miss on Europe and the miss on the Bond market, I really wondered if he listened to Greenspan speak on Wednesday. There is now the chance the Fed will think have to raise 50bp to combat the inflation they now see (finally) and I'm betting that the market hasn't priced this in (yet). I think a bad slowdown in the US and China will make not taking profits here a missed opportunity.

Coxe is telling his followers to stay the course. My question is whether there will be enough liquidity in the system later in the year to get the energy stocks anywhere near the levels we've seen. Coxe is calling for higher highs than this (that's why he's not suggesting taking profits, although he did mention a reducing of exposure to equities by 5%)

I am concerned we're getting bad calls here. If I'm not mistaken, we're in a dollar up everything else down cycle, and it could last for awhile.

I've been taking profits.

Cheers,

David
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