Thoughts on Markets

Friday, July 28, 2006

Back in the Saddle Again

Well, gold did not go to the sky as I had thought it would with all of the Middle East unrest and wars. Neither did San Antonio get any rain. The rain was all along the gulf from about New Orleans, LA, to Corpus Christi, TX. I believe I drove through most of it on the 25th. and 27th.

Gold is still on a rocky road and the dollar on the precipice of a slippery slope. For the last 24, gold hit $638 as high last evening at 8:08 and low of $625.80 this morning at 8:26. It is currently $634.50. Silver is back to about $11.30.

DROOY is back in buying range around $1.33. I bought some this morning at $1.34, but it may be available at a lower price, even $1.30.

My friend, Ken Coleman (Investment Tracker), is recommending BGO which is trading at $5.53 now. I own some of Bema Gold, and am not now a buyer, because of my holding. It is a good mining company.

I have a lot of catching up to do, so I'll sign off for now. May have another post this afternoon.

Best to each, Doug

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