Richard,
Don't take the CNBC snub on your gold news personally.
Just because they didn't mention it doesn't mean they are biased. It is just because gold is not a hot topic right now. In fact, the day they start touting gold and gold stocks is probably the day you want to dump your gold shares, right? Let's face it, if it isn't Microsoft, Compaq, Dell or the stock du jour (read: K-Tel), they're not going to go out of their way to cover it.
Heck, yesterday one of my biggest biotech positions was written up in an independent medical journal, saying they have new tests that indicate that one of their drugs could be the cure for Alzheimers and stroke patient treatments. Did it get a mention on CNBC? Nope. Did I expect it to? Of course not. The day they mention the stock (if they ever do) is the time where I start writing the sell tickets. I thought it was blockbuster news, but I certainly didn't hold it against CNBC for not covering the story.
Let's face it, there are hundreds of interesting news releases every day involving small cap stocks. Just because CNBC doesn't cover them doesn't mean they are snubbing the companies. They're just going to show the stuff that keeps people tuned in. Like I said, the day they cover your gold stock or my biotech stock is the day we need to be selling. In time, the market will adjust on your stock if the fundamentals are legit. If you're counting on CNBC to bail you out of a position, then you're in the stock for the wrong reasons. In 9 years of being a broker, I can count, on one hand, the number of times a stock I had a position in that was promoted on CNBC. In the end, it didn't matter; the stocks I was right on went up and the ones where I had a bum steer went down. Counting on CNBC to bail you out of a smallcap position is like wishing on a star or hoping you'll win the lottery.
Gary |
