Mid-day Gold, Financials Update 08-13-08

We have made a huge move up in gold, taking the mining stocks with it. The main indices are down big, headlines blame the weak retail sales data for this.

Industry leaders: silver, independant oil & gas, ag chemicals, gold, copper. This is a great indication that a reversal is occurring.

Our SKF buy from last Friday ($121.50) is well in the money. I’ve added positions in HL and AUY. $7.05 and $10.80 respectively. I like the price action so far today. If we can trend higher I will be adding more on dips.