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Recently put on a powerful spurt. His fair market value is about double the current price. It is just breaking out over a very important resistant level.

We were lucky that Kerry did not win the election. He would have had to face a couple of issues. 1st it would require more fiscal responsibility and 2nd it would have been a hung Congress, i.e., himself versus a Republican Congress. This would have made it difficult to get a lot of legislation through. Clinton was in the same situation and it worked out very well because they couldn’t get a lot of spending bills passed and fundamentally, the US kind of cleaned up its act, got into a surplus and the US$ went up and good things happened. The market would not have wanted that this time as it would have meant some kind of fiscal discipline to bear and frankly the US has been living off the fat of rather profligate fiscal spending. To have been pulled up short would have been a problem for the stock market and the US consumer. Problems that go with all the fiscal irresponsibility remain with us in spades. This creates prolonged downward pressure on the US$ for at least the next couple of years which is not good. Makes me a little more bullish on gold, but certainly reinforces my bullishness on oil as OPEC will not put up with continuing erosion in its own US reserves and will counter this with upwards pressure on the price of oil.

If you own, consider switching some of it to their convertible debentures. Feels the company remains a creeping takeover.

Under some cloud/pressure because of day trading in mutual funds issue. FMV is substantially higher than current price.

Facing a large number of large and messy law suits.

FMV is $69 which is probably due as much to the copper as to gold.

Very nervous about auto stocks. In an extended cycle on auto sales and have had a double 8 year cycle. When the correction comes, it's going to be a real doozy.

Very nervous about auto stocks. In an extended cycle on auto sales and have had a double 8 year cycle. When the correction comes, it's going to be a real doozy.

Not a fan of the banks. Historically, they are all trading at 55 valuation highs and have always had major corrections.

Not a fan of the banks. Historically, they are all trading at 55 valuation highs and have always had major corrections.

Not a fan of the banks. Historically, they are all trading at 55 valuation highs and have always had major corrections.

Not a fan of the banks. Historically, they are all trading at 55 valuation highs and have always had major corrections.

Not a fan of the banks. Historically, they are all trading at 55 valuation highs and have always had major corrections.

(A Past Top pick Sept 17/04.) Still likes. Gives a nice steady return and has grown in value.

(A Past Top pick Sept 17/04. Up 11.5%.) About the cheapest of the energy stocks and the only one that hasn't broken out yet. FMV of over $100.