Gold is Up, Oil is Down

Today’s shaping up to be a lot like yesterday, only more so. Oil is down again, however gold is rallying. On our Buy List, Frontier (FRNT) is having a very good day. Thor Industries (THO) is also doing well. Lower oil prices are clearly helping us. I wouldn’t be surprised to see oil dip below $60 soon.
The CEO at Wright Medical Group (WMGI) said that he’s going to step down. This comes one day after his company announced a major earnings warning. This hurt our medical stocks. Zimmer (ZMH), Stryker (SYK) and Biomet (BMET) are all lower again today. However, UBS initiated coverage of Medtronic (MDT) and St. Jude (STJ), each with buys.
Despite the gold rally, financials are having a decent day. Golden West (GDW) was upgraded by Wachovia, however Commerce Bancorp (CBH) was downgraded by Oppenheimer. In the tech sector, Bear Stearns is maintaining a “peer perform” on eBay (EBAY).

Posted by on October 6th, 2005 at 1:03 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.