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The Best Tech Opportunities Today

Posted by Money & Markets

on Thursday, 5 March 2015 16:30

A new milestone for the bull market in stocks was passed this week as the technology-heavy Nasdaq Composite Index closed above the 5,000 level for the first time in 15 years.

The last visit above this level was on the way down for the Nasdaq in March 2000 as the tech bubble burst. The Nasdaq went on to lose an astonishing 90 percent of its value in just two years.

Inevitably there have been scores of comparisons this week between “then” and “now” for the Nasdaq, and times have indeed changed.

Back in 2000, the Nasdaq was priced at more than 500 times profits … profits that would prove illusory when earnings collapsed during the tech-wreck bear market that followed.

Fifteen years ago, only 68 of the 100 largest Nasdaq stocks had profits, the rest traded on metrics such as “clicks”

“page-views” or “eyeballs.” Ah, those were the days: Who needs profits when you have unlimited possibilities?

Today, the Nasdaq Composite is trading at just over 30 times trailing earnings, and only 21 times this year’s expected profits; not much higher than the “old-economy” stocks in the S&P 500 Index trading at 17 times estimated earnings. Today’s valuation may be a bit on the high side, but certainly no signs of “irrational exuberance” at present.

What’s more, Nasdaq companies earn a higher valuation today because aggregate earnings for the index are poised to grow 49 percent over the next 12 months.

The most valuable company in the Nasdaq today, Apple (AAPL) is priced at just 14.4 times profits, which seems quite reasonable when you realize AAPL profits have grown more than 30 percent over the past five years.

Here’s another AAPL fun-fact to ponder. Shares have soared 73.7 percent over the past year, and last week AAPL’s market cap surpassed $770 billion — larger than the market cap of ALL the stocks listed in the S&P Small Cap 600 Index, combined!

That may seem somewhat irrational but it shows just how far some of Nasdaq’s leading stars have come since the dark days of the tech-wreck almost 15 years ago.

This fact also points out the opportunity in small-cap technology shares, new up-and-coming companies that have bright futures ahead, and yet look quite undervalued today compared with tech titans like AAPL.

In fact, small-cap tech shares have slightly outperformed larger tech companies in the S&P 500 Index so far this year, perhaps because that’s where cheaper valuations and the best opportunities can be found.

As my colleague Jon Markman will attest, there are plenty of dynamic new technology developments on the horizon. Many of them will be pioneered by as yet unknown small cap technology companies, stocks that have the potential to become the AAPL of tomorrow.

Good investing,

Mike Burnick

Biotech: Why I’m Taking Profits In This Booming Sector

Posted by Frank Curzio - Uncommon Wisdom

on Thursday, 5 March 2015 16:01

Biotech stocks are on a historic run.

Over the past three years, this sector outperformed the S&P 500 by 128%. In fact, biotech stocks outperformed almost every sector you can think of since 2012.

This outperformance was due to several factors

Right now, the Federal Drug Administration (FDA) is approving new drugs at the fastest pace in nearly two decades.

That’s because we are seeing huge technological advances in areas like immunotherapy, life sciences and orphan drugs (which used to treat rare diseases).

What’s more, hundreds of billions of dollars in sales are vanishing from Big Pharma companies like Pfizer (PFE), Merck (MRK) and GlaxoSmithKline (GSK).

That’s because patents on their best-selling drugs are expiring.

This is forcing Big Pharma to invest (using the billions of dollars in cash on their balance sheets) into the biotech space in hopes of finding the next blockbuster drug.

I’ve talked about these catalysts numerous times over the past three years as a reason to buy biotech stocks. However, valuations are out of control.

In other words, many of these stocks are priced for perfection — as if their early stage drugs are already generating billions of dollars in sales.

If you followed my recommendation to buy into this sector, I suggest taking profits right now.

Not only are valuations near historic highs, but the “smart money” is starting to increase their short positions in the sector.

One of the best measures to track the biotech industry is through the iShares Nasdaq Biotechnology ETF (IBB). This fund tracks the largest biotech stocks and has nearly $7 billion of net assets.

Its top holdings include Amgen (AMGN), Celgene (CELG), Biogen Idec (BIIB), Gilead Sciences (GILD), Illumina (ILMN) and Regeneron Pharmaceuticals (REGN).

This fund has been on a tear during the past three years. For example, if you had put $10,000 into IBB three years ago, you could be sitting on upward of $28,000 today.

This is a huge return compared to the S&P 500.

To compare, if you had invested $10,000 into the large-cap index, you would only be sitting on $15,300 in gains in that same time frame.

The monster return we’ve seen in biotech stocks is both momentum- and fundamentals-based.

From a technical level, these stocks have been in an uptrend for 36 months. Many biotech names reached multiple new highs during this incredible run.

On a fundamental level, cash has been pouring into biotech stocks. This cash has come from large-cap healthcare stocks.

Large-cap healthcare stocks have lost hundreds of billions of dollars in revenue over the past few years as patents expired on some of their blockbuster drugs. (That is, drugs generating more than $1 billion in sales.)

Companies Look to Buy the Next Blockbuster

Companies like Pfizer, Merck and GlaxoSmithKline have a combined $58 billion in cash on their balance sheets.

They’ve been using this cash to invest in biotech companies (through partnerships and direct investments) in hopes of finding the next blockbuster drug.

The FDA has also been a huge help to the industry. In 2014, the government agency approved 41 new drugs.

This is the fastest pace of approvals in 18 years.

It’s also the second-highest on record, topped by 53 drug approvals by the FDA in 1996.

Once a drug receives FDA approval, the company is allowed to sell its product to consumers. That means the company will begin to generate revenue and eventually profits.

This is also great news for the company’s share price, since most biotech stocks experience quick pops following FDA approval.

It’s Getting Harder to Find
Cheap Stocks in This Space

Another catalyst for the industry includes rapid advances in key areas of medicine.

We’ve seen amazing technology over the past few years on immunotherapy (using your immune system to fight off diseases) … DNA sequencing (able to test and analyze DNA using simple cost-effective blood tests) … and orphan drugs (quicker FDA approvals on drugs to treat rare diseases).

These catalysts have contributed to one of the greatest stock runs in biotech history.

For example, the IBB biotech ETF is trading at 50 times earnings. That’s about three times higher than the S&P 500.

Consider that the average stock in the S&P 500 trades at less than three times book value. Meanwhile IBB trades at nearly 10 times book value!

Investment giant Goldman Sachs (GS) points out that some of the biggest biotech names are approaching a 10-year valuation high based on their price-to-sales ratios.

That’s just one of the reasons Goldman downgraded the sector from “Buy” to “Neutral” in January.

Goldman also highlights how Amgen, Celgene, Regeneron and Gilead have recently become some of the most heavily shorted stocks. (This is based on Goldman’s Hedge Fund Trend Monitor report.)

In short, the smart money is betting these stocks will decline in the months ahead.

However, valuation should never be the sole purpose of shorting or selling out of a position. After all, expensive stocks can always get more expensive.

Falling Drug Prices Pose
A Big Threat to Biotech

However, another big catalyst that could threaten the biotech sector …

Last month, the Obama administration said it would seek authority to negotiate prices on high-cost drugs under Medicare.

I’m sure most of you agree that market forces — not the government — should determine the price on drugs.

In addition, the Republican-controlled Congress is against this measure — and most voted against this initiative in the past.

However, healthcare costs are out of control.

Over the next year, Obama’s budget plan projects a 30% increase in drug benefits due to the rising cost of specialty drugs.

This model of negotiating prices is a key reason why drugs are now as much as 60% cheaper in other countries.

In short, it’s difficult for a politician to go on record supporting higher drug prices for elders. We could see politicians find a middle ground and negotiate small price cuts.

This step alone would be enough to push biotech stocks lower from these super-inflated levels.

During the past three years, biotech stocks have been on fire. There are plenty of tailwinds in the past that helped contribute to this historic run.

However, biotech stocks are priced for perfection. Any negative news could result in a huge pullback in some of these names.

My suggestion is to take profits in the sector. The reward of owning these names at current high multiples does not justify the risk.

Good Investing,
Frank Curzio

How to Position Your Portfolio for the Coming Gold Upturn

Posted by The Gold Report

on Thursday, 5 March 2015 15:50

The world needs gold, says AlphaStox’s Etienne Moshevich, and while it has been out of favor for the last few years, a series of macro factors point to its uptrend. In this interview with The Gold Report, Moshevich discusses 11 gold, manganese and graphite companies with management teams that have the skills to ride the wave to create shareholder value.

The Gold Report: The metal mining sector is undergoing many of the same types of issues as the energy sector. What is your candid assessment of the near future for gold, silver and the base metals?

Etienne Moshevich: My outlook for the sector is very similar to that of the overall energy market—the world needs gold and the commodity isn’t going away. It may go out of favor for a couple of years, which we’re experiencing now, but it seems as though the market is slowly starting to creep back up and this is the time investors need to be positioning themselves in high-quality management teams and projects before the market gets away from them.

Although many things could change, macro signs are pointing to a turn in the gold market. Even though the U.S. dollar is still the strongest and most reliable currency in the world, more and more countries seem to be shifting away from the dollar, which would definitely strengthen demand for gold. Also, if the U.S. economy falls into another recession and the Federal Reserve decides to apply another one of its quantitative easing techniques, then this will be very bullish for gold.

One last major factor that we should consider is the possible demand from foreign central banks. We need to keep in mind that the Swiss are voting on a gold referendum that would require the Swiss National Bank to hold 20% gold reserves. Even if this doesn’t go through, I’m sure there would be more pressure on it to increase gold reserves over time. I’m bullish on silver, as well, over the long term because of its industrial and technological applications.

TGR: Let’s tour the field. Starting with gold, which companies do you spot as viable?

EM: There are a couple of projects I really like. The first is Ascot Resources Ltd. (AOT:TSX.V). CEO John Toffan and his team are second to none in the industry. They have created so much value for their shareholders over the last 30 years with Stikine Resources, which went to $75/share, and Delaware Resources, which went to $26/share, that it’s hard to bet against them.

Ascot has a very viable resource of around 4.5 million ounces (4.5 Moz) that can easily be expanded in British Columbia, as well as a project in Washington State that has yet to drive any value for the company. In addition to that, Ascot is sitting on a 66-million-tonne gravel pit that is getting no value in the market. Ascot used to sell one-off amounts of the gravel at around $4.50/tonne. If you multiply that by the overall resource, it’s more than its entire market cap.

With more liquefied natural gas plants starting up in the area, they all need a supply of gravel; I’m sure one of them will be knocking on Ascot’s door looking for a deal and that’s the time when Ascot will be able to monetize it. At a $170 million ($170M) market cap, I think there is a ton of room to grow. This is the year to do it as Ascot will be focusing on acquiring 100% of its Premier project, which should get the market and any major excited.

Jayden Resources Inc. (JDN:TSX.V) is another company I like right now. The company’s Silver Coin project is located in the Stewart Camp in British Columbia near Ascot’s Premier project. Silver Coin shares many characteristics with the nearby Silbak-Premier mine, which produced 4.7 million tonnes (4.7 Mt). The project already has an NI-43-101 compliant resource of over 24 Mt grading 0.78 grams per tonne (0.78 g/t) gold with a ton of exploration potential, giving investors plenty of upside on that number. Silver Coin is a significant gold resource that will be followed up in its next drill program. With a number of outstanding plays in the area, I truly think it’s just a matter of time until the market and/or someone a lot larger understands and realizes the value Jayden is creating in the ground, especially as the company sits at a $7M market cap. With infrastructure already in place, 869 holes drilled to date, a confirmed resource in the ground and solid financial partners, investors should definitely be keeping an eye out on Jayden.

Another project I really like is TerraX Minerals Inc. (TXR:TSX.V). TerraX is drilling the Yellowknife City gold project, having recently started a 5,000-meter winter drill program, so there should be a lot of news flow to come in the next three months. This property is immediately north of, and on strike with, the prolific Con and Giant gold mines, which together produced over 14 Moz gold at an average grade of 16.1 g/t gold during the approximately 60-year mine life. Many people think that this type of mine would be expensive and is limited by its northern remoteness. . .they couldn’t be farther from the truth. The project is on the city limits of Yellowknife, providing excellent infrastructure that includes roads, an all-season airport, hydroelectric power and skilled labor. There is also strong community support within a safe political jurisdiction.

Led by TerraX’s president, Joe Campbell, the management team is experienced in mine discovery, development and operation. To shed a little more color on Joe, he is the person who initially found, drilled and developed the Meliadine gold project in Nunavut, which was ultimately acquired by Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) and is one of Agnico’s largest projects in terms of reserves (2.8 Moz) and Indicated resources (3.1 Moz), and, I quote, its “fastest growing deposit with multiple high-grade zones” with an additional 2.7 Moz Inferred resource already put on the books. And Joe sees a lot of similarities between this and the Yellowknife City gold project.

The winter drilling program only began on Jan. 22 and TerraX has already completed the first 19 holes, demonstrating management’s determination to use the money raised effectively and efficiently. With around $2.4M in treasury and Osisko Gold Royalties Ltd. (OR:TSX) as a major shareholder, there is no doubt in my mind something could happen with that project, providing shareholders the potential for a substantial return on their investment.

TGR: Are there successful firms that are invested in a spectrum of mining ventures?

EM: Yes, Sulliden Mining Capital Inc. (SMC:TSX) is one of them. The company is a spinout from Sulliden Gold Corp., which was bought out by Rio Alto Mining Ltd. (RIO:TSX; RIOM:NYSE; RIO:BVL) last August. The same team that built Sulliden Gold is running Sulliden Mining Capital and there is no one I’d rather invest in the mining sector than these people. Both Peter Tagliamonte and Justin Reid are extremely capable, experienced and successful mining entrepreneurs who, most importantly, know how to drive shareholder value. I have no doubt they will be able to do it again with Sulliden Mining Capital. The company is looking to deploy substantial capital toward opportunities in the sector and there isn’t a better time to go shopping than now because the deals you can cut are better than they’ve ever been.

TGR: What gold miners are staying the course in South America?

EM: Exeter Resource Corp. (XRA:NYSE.MKT; XRC:TSX; EXB:FSE) is another company I love; the company is looking at developing its Caspiche project in Chile. Exeter also has around $30M in cash and is led by a stellar management team that has done this before. Chairman Yale Simpson was most recently the co-chairman of Extorre Gold Mines Ltd. (XG:TSX; XG:NYSE.MKT; E1R:FSE), which was taken over by Yamana Gold Inc. (YRI:TSX; AUY:NYSE; YAU:LSE) for $414M in June 2012. The Caspiche deposit is not only one of the largest new discoveries in South America in the last decade, but also holds the potential to be a very high tonnage, long-life mining operation. With close to 38 Moz gold equivalent in the Measured and Indicated category, big potential for expansion, substantial cash and an incredible team, how can you not bet on this name?

TriStar Gold Inc. (TSG:TSX.V) is another name to keep watching right now. Led by Mark Jones and Len Krol, both are synonymous with success. Mr. Jones was founder of Crown Resources, which was taken out by Kinross Gold Corp. (K:TSX; KGC:NYSE), and a director of Arequipa Resources, which sold to Barrick Gold for $1 billion. This isn’t the first time Mark Jones and Len Krol have come together to make a huge success. They worked on Brazauro Resources together, which was taken out by Eldorado Gold Corp. (ELD:TSX; EGO:NYSE) in 2004 and they’re looking to do it again with TriStar.

The company has a very interesting project in Brazil that should start to get a lot more attention in the next three to six months, once it starts its drill program. TriStar plans to do more infill and stepout drilling within the property to expand the resource, and ultimately hopes to sell it to a major that wants a low-cost producer with excellent infrastructure.

TGR: Moving on to other metals, which companies do you like for manganese?

EM: Cancana Resources Corp. (CNY:TSX.V) is a company I’m deeply looking into; it has a high-grade manganese project in Brazil. Manganese is essential in steel production, and also a key micronutrient that has significant agricultural yields. Brazil is the world’s leading producer and exporter of soybeans, so a constant supply of high-quality manganese is a must. Ferrometals, a subsidiary of The Sentient Group, a $2.7 billion fund, is the company’s largest shareholder, so I don’t see Cancana having any troubles with financings anytime down the road. It has a clear path to being cash flow positive, which it hopes to achieve by 2017.

TGR: How about graphite?

EM: I like graphite. One of the companies that I think is just so hard to miss is Graphite One Resources Inc. (GPH:TSX.V). It is North America’s biggest large-flake deposit with an Inferred resource of over 284.71 Mt grading at 4.5% graphite. With Tesla Motors Inc. (TSLA:NASDAQ) making new headway and its Gigafactory requiring around eight new graphite mines, how can someone miss Graphite One’s Graphite Creek deposit? The company has been able to raise over $5M in this market to continue to grow its resource, and seems to be well on its way toward monetizing the asset in the near future.

TGR: What other miners should investors be following as the sector gears up for a commodity renaissance?

EM: TomaGold Corp. (LOT:TSX.V), for sure. TomaGold is a name I’ve been following for the last couple of years now and, together with IAMGOLD Corp. (IMG:TSX; IAG:NYSE), it continues to develop the Monster Lake project in Quebec. The high-grade results TomaGold has been able to issue have gotten many investors excited over the potential and economic viability of the deposit. If we were in a bull market for gold, there is no doubt in my mind the results that TomaGold has been able to release to the market would send the stock skyrocketing.

Because we are not in a bull market, it will take time but, unlike most junior explorers in the market today, TomaGold has IAMGOLD on its side; IAMGOLD continues to fund the project, so at least TomaGold is not pressed for time and funds. Make sure TomaGold is on your radar screen. TomaGold just issued some spectacular results and if it is able to continue its success with the drill bit, there is no doubt in my mind it will pique the interest of someone with a lot deeper pockets to take over the property.

I continue to follow Source Exploration Corp. (SOP:TSX.V) and Guerrero Ventures Inc. (GV:TSX.V); both have quality projects in Mexico. Source Exploration will soon be starting a six to eight week, 2,000m drill program at its Las Minas property. The company recently signed a diamond drilling contract and is 100% funded to complete the program. Rather than exploration drilling, the company is drilling for a resource as it believes it is sitting on a highly contiguous deposit. The program will focus on the Santa Cruz zone and includes stepout drilling at the Juan Bran target. Source has already had success in the area: the 2014 drill highlights include 10.6 g/t gold and 48.47 g/t silver at Santa Cruz and 3.10 g/t gold at Juan Bran. This past success indicates the great potential for the upcoming drill program. Additionally there is significant potential beyond the current drilling area that Source will be positioned to take advantage of when the markets improve.

Guerrero is drilling its Biricu project, which comprises more than 41,000 hectares of highly prospective ground that management believes lies along the direct on-strike extent of five skarn deposits in the Guerrero gold belt.

There should be a lot of news flow to come from both Source and Guerrero so make sure you keep both tickers on watch now.

TGR: Thanks for your insights.

Etienne Moshevich is the editor of AlphaStox.com, a junior market newsletter featuring companies with the very best in management teams, projects and capital structures. Moshevich is also the president of Transcend Resource Group, an investor relations company based in Vancouver, B.C., specializing in exposing undervalued companies to the marketplace. With a degree in economics, Moshevich has helped finance many successful mining, oil and gas, technology and biotech companies over the years, many of which have rewarded shareholders with substantial returns.

Read what other experts are saying about:

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DISCLOSURE:
1) Peter Byrne conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an independent contractor. He owns, or his family owns, shares of the following companies mentioned in this interview: None.
2) The following companies mentioned in the interview are sponsors of Streetwise Reports: TerraX Minerals Inc., TomaGold Corp. and Source Exploration Corp. The companies mentioned in this interview were not involved in any aspect of the interview preparation or post-interview editing so the expert could speak independently about the sector. Streetwise Reports does not accept stock in exchange for its services.
3) Etienne Moshevich: I own, or my family owns, shares of the following companies mentioned in this interview: Guerrero Ventures Inc., Source Exploration Corp., Ascot Resources Ltd. and TomaGold Corp. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: Ascot Resources Ltd., TerraX Minerals Inc. and TriStar Gold Inc. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
4) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts’ statements without their consent.
5) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer.
6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

Loonie climbs while ECB in spotlight

Posted by Andrew McGuire - Agility Forex

on Thursday, 5 March 2015 15:46

USDCAD Overnight Range 1.2410-1.2484

The Loonie has held on to most of yesterday’s gains despite broad-based US dollar strength against the majors. A sleepy European session was jolted awake when Mario Draghi started speaking. EURUSD bobbed and weaved within a 1.1000-1.1100 during his remarks even though he didn’t seem to say anything EUR negative.

Earlier, US jobless claims provided a disappointing result, rising to 320K but traders seemed to have shrugged off the result.

The Canadian Ivey Index rebounded to 50.8 from 42.8 in January but hasn’t really impact USDCAD trading. The recent series of lower, highs in the daily ranges combined with a neutral BoC and firmer oil prices in an environment where traders are already well long USDCAD argues for another test of the 1.2340-60 support area. However, that move will be on hold until after tomorrow’s US payrolls data.

USDCAD technical Outlook

The intraday USDCAD technicals are bearish below 1.2490 and looking for a break of minor support at 1.2410 to extend losses to 1.2340. A break of this level puts 1.2060 in play. A move above 1.2490 argues for more 1.2400-1.2550 range trading

Today’s Range 1.2420-90

Chart: Larger USDCAD hourly with post BoC drop shown HERE

Faber: Dump Biotech, Short Central Banks, Buy Gold

Posted by Marc Faber: The Gloom, Boom & Doom Report

on Wednesday, 4 March 2015 22:31

This transcript has been automatically generated and may not be 100% accurate. I … January is marked with for consumers and the financial markets … get lots of optimistic views of white there to kill investments are gonna go up … sometimes we like to divert from that point of view … and Jack Otter Editor Barron’s the common for the opposite point of view I’ve gotten Mark Palmer who is editor of the boom boom and doom report … I got the drawn to … the gloom doom and gloom reports … on mark to give us your outlook for the global economy in twenty fifty … well I think it would OPEC different parts of the world to America as we selected American Norse America Canada Mexico … and in Europe and binned the emerging market calm breaks was known to be Asia … and Africa and Central Asia the Middle East … then have to say that Europe is unlikely to grow … maybe grows by one percent to eighty contracts by one percent to be … statistical other nations … I don’t think that the U S economy speaking uprising slowing down … and in emerging economies we have no gross at the present I … in some countries they may be growing a one two percent than in others they Harry’s of contraction the new dos new production … the Chinese economy which is … the dominant emerging economy in the world … he said that the slowing down … being the only other hand has probably at the present time around five six percent growth … rate in general … you tobacco aches for staff cannot … even go back to the global reserve accumulation that they’re not … so I think that who face a disappointing two thousand and fifteen in terms of … economic growth … India sounds like you’re only bright spot there … whoa in terms of gross yes but don’t forget last year in dollar terms the stock market was up thirty five percent … and the chairman of the new capital from the Fed to from the was up close to fifty percent last year … twenty outperformed the in the seas … I don’t think that these will be repeated maybe will go up another fifteen percent or so … but in general I think a lot of my kids … are that not terribly explains the Renault … bargains any good news sounds like a soaring price twelve × topped the Barron’s full conference I think it was in October … I think the Chinese economy slowing down but the stock of the two will go up to the markets … and the economy can move in different directions … and said that there is a lot of central bank interventions that … expectations buying basis while … the central bank will do what makes … and so in basis ironing the stops in the expectation that the … Bank of China was thinking he’s … so into this sign environment where do you invest where were one of their money … well I mean I think they are there for the first time in a long time since two thousand and seven teams thousand and eight … actually some shorting opportunities … some coconut shorting some … sectors I thing is quite dangerous to short EU stops … this um it may come and take him over … the country line with the exit so … that I would say that BdB you know some CDC’s like the biotechnology index the Psalm and the very Heidi and … social media … ETA these are relatively high tea in my opinion … Bibi other people at the frontier was … or that the stops in that same icon Doctor … I stopped eating dates is on the high side … reading these are shorting opportunities I think … you say in the least probably stayed a short … although it’s a very oversold and send them is a negative second rebound like the euro … the police concerns about the U S dollar is enormous … so we may have a setback in the rebound the euro’s … I think it at my bake … he’s the I cord short … central banks I would short central banks into was out on and defeat in that is I think … investors … will suddenly realize … what the scam central banking fees … and then Daewoo was competence … and based only one way to short central banks idea and I went to to buy gold … ah so … are you long gold are you three as on long gold up in great Moallem gold things that … need nineteen nineties … and dare I polls recently became more … and I think if someone really wanted to make a lot of money in gold … he’s the higher your risk proposition Venetian by … the small mining stocks like the TT exchange their junior year I guess that the ice data that tends to do with … better than the old one it does well and were so a lesson that absolutely … last year when gold went up by fifteen percent … in the first few months … of two was thousand and fourteen … the GDX stayed with the forty percent so … it’s more much more what

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.