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NOT ON CNBC

May 31, 2003

One day the Wall Street cheerleaders (CNBC) will have to acknowledge something that they have been evading and avoiding all year long.
The number one performing sector on Wall Street is not defense stocks- though they have been doing very well.
Forget retail stocks as they have peaked. The pharmaceutical stocks are having patent problems. Bank stocks are on the ropes. The brokerage houses and seeing less and less business.
So, what’s this hot sector that no one wants to talk about that’s leading the market by far? It’s the same sector that Goldman Sachs trashed and downgraded last week in an attempt to manipulate the markets and the interests of their investors: pure FRAUD!
It’s GOLD stocks! In fact in the last eighteen months the two major gold indices are up 105% (XAU) and 300% (HUI). You’ll not hear about this on CNBC of course since they have been putting down gold for the last 18 months while hyping Nasdaq which in the last 18 months is down about as much as gold is up.

Written by Ernie · Filed Under Daily Commentary 

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