Wikinvest Wire

Thanks, but I'm not really concerned (about me, that is)

Monday, September 22, 2008

This came in the mail a short time ago. Apparently the nation's largest U.S. provider of mutual funds, servicing more than 23 million investors, is concerned that I might be concerned about my retirement account.
IMAGEWell, I guess I'm a little concerned, but not much really. I am very concerned, however, about the rest of the people in this country who were counting on much higher prices for their real estate and their stocks to fund spending in their golden years.

On a related note, look at last week's inventory build for the SPDR Gold Shares ETF (NYSE:Arca:GLD). Oddly, the ticker for GLD at Yahoo! Finance has been stuck at last Friday's closing price all morning.
IMAGEAnd here's the one for the iShares Silver Trust ETF (NYSE:Arca:SLV). The silver price has been quite erratic lately between the London close and the New York close, but investor demand seems to be quite strong.
IMAGEThere's a pretty good chance that both trusts will see an even higher inventory level as a result of what metals markets are doing today.

Full Disclosure: Long GLD and SLV at time of writing.

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getyourselfconnected said...

I have called for the institution of an Economic Doomsday Clock, just like the old atomic age scare system, to tell us all just where we are in relation to midnight in the financial world. Stop by and vote!

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