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Lucky Number Seven

Daily Rap 04-24-2014

Overnight market action was a nonevent, as today was driven by last night's U.S. corporate earnings news and wild market machinations (I'm not quite sure what precipitated the wildness). Last night a list of tech companies were mostly successful at beat-the-number, though some of that success was dubious at best (more about that below).

Charlie Sheen Would Be Proud Initially, the aggregate earnings "wins" saw the Nasdaq higher by about 1% and the S&P by about half that. However, no sooner did the market open when the indices reversed and the Nasdaq was in negative territory. From there, a rally ensued that fizzled for the Dow/S&P (which were flattish), but with a half-hour to go (when I had to leave), the Nasdaq had gained 0.5%.

Away from stocks, green...more

Last year's posts for Ask Fleck

Q: interesting GS says gold is a slam dunk to 1050 but some other analyst at GS upped the miners. love it - ABX they upgrade - could it be to get that stock up a little for the NEM deal?

Fleck: I'm sure they had some motive, that's for sure...
(posted: 4/23/2014)

Q: Hi Fleck - I do not know if you have ever recommend a specifc percentage for gold in a portfolio (I tried the search) but do you recommend a certain percentage and do you follow that as a guideline (recognizing there should be a different guideline for a 'pro' and an average investor)?

As a follow on, is it fair to assume you are basically in cash as you await for the gold bull to get legs while simultaneously honing in on short candidates?

Thanks in advance

Fleck: I haven't because everyone's needs are so different, so I try to avoid making comments on what exposure is appropriate as it is very personal. I tend to try to have a big percentage, which means I also need to use more risk control techniques due to price action often feeding on itself. I'm in cash as far as shorts go, but not for gold, though I do trade my positions ex my physical gold, which I never touch. I hope that helps. It is a tricky topic.
(posted: 4/23/2014)

Q: There is a growing group of retired and want to be retired people that may have no choice. The Fed and government chose to sacrifice those people when it decimated yield. There might be lower unemployment if those wanting to retire were able to do so and still buy groceries, etc.

One of the values of Mr Skin is that he gives indications of when temporary lightening up may be prudent to preserve capital. Do you have any suggestions for the segment of people mentioned?

Fleck: I'm sorry, but your question is too vague - I can't tell what it is you're actually asking?
(posted: 4/23/2014)

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