Two Ways To Play: The Goods on Durable Goods
Strengthen your portfolio in good times and bad.
The Commerce Department said orders for goods meant to last several years rose 0.8% in June. It was the first consecutive monthly increase since July of 2007. Further, durables ex transportation jumped 2.0%, above economist forecasts for a -0.2% decline.
Elsewhere, the housing sector also got some positive data. Economists had forecast that new-home sales would decline to a 503,000 pace. That figure came in better at 530,000 for the month of June.
Finally, the Reuters/University of Michigan final index of consumer sentiment was released. That number jumped to 61.2 in July from 56.4 in June.
See Professor Lance Lewis' Time For Mining Gold is Now.
From the Bull Pen: Professor Lewis gave his reasons for the gold plays. Amongst the options, bulls can consider the gold miners ETF (GDX), or the gold ETF (GLD).
From the Bear Cave: Bears aren't fooled by today's economic data, and one downside option could be fading (read:sell) the rally in the real estate ETF (IYR) into its 200 DMA ($66).
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter