I don't know where the bottom is in this market but I know the slide will eventually hit a bottom. With the big run up in gold today we finally saw some investor pick up shares in some of the big gold producers. Osisko Mining-OSK.to was up today at one point but finished down. I expect Osisko Mining to be a "cash cow" at current gold prices. Perseus Mining-PRU.to who will be in production very soon also finished up today. I expect investors will slowly start dumping their money into the gold producers as gold continues to make new highs.
The SDOW which I recommend before this crash , finished up 16.33% closing at $45.37 and is currently trading higher after hours. Short term the the SDOW should hit $50.00. -Be cautious investing in the SDOW- it's for high risk investors- But, looking at current market conditions the SDOW looks like it's going higher.
In this video : http://watch.bnn.ca/#clip512337 Raymond James analyst gives Osisko Mining-OSK.to a $21.00 target. He also mentions Perseus Mining-PRU.to and gives it a $5.50 target and it's their top pick.
Oil stocks are looking very attractive especially Suncor-SU.to. Don't jump in yet, because we could see oil going to $50 in the short term. A company like Suncor-SU.to should be considered a long term oil play.
I believe investors should be in Cash, Gold and some silver. If you are planning to buy a gold play you should look at buying a gold producer with lots of cash, great projects and strong management. Even gold stock are being sold off during this "Crash". So investors should be very cautious. Some time it's just better to sit back and let the markets take it's toll. Or just term off the T.V and stop reading the paper it just causes more panic. We shouldn't be in shocked, we saw this coming.
On a more important note -Anderson Cooper -(Somalia Famine)
I am sure the children and people in Somalia aren't thinking about this market crash. Aprox. 29,000 children under the age of 5 have died in the last 3 months. It brings tears to my eyes seeing these children starve. 3.2 million people in Somalia in need of immediate, life saving assistance This horrible preventable famine puts what we are seeing in the markets to shame. More will die and it's terrible this has to happen. Sometime we take life for granted.
You can make donation here -Red Cross-: http://www.redcross.ca/article.asp?id=40022&tid=001