Buy on the News Rally, FDX Guides Higher, Gold Lower
By: Matthew Whiz Buckley
In today’s Stock Market Financial Report, Matthew “Whiz” Buckley, Chief Investment Officer and Model Portfolio Manager of Top Gun Options, reviews how the market rallied yesterday on seemingly good housing news but we’re seeing weak housing premarket news.
He then reviews how Fedex (FDX) reported weak numbers but guided higher for 2013 and Gold (GLD) pulled back below the psychological 1700 level as positive news on housing, the fiscal cliff and Greece provided the ‘flight to safety’ metal a chance to pullback and consolidate. This should give gold bugs an opportunity to accumulate more of the precious inflation hedge.
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