Market Wrap-Up for Dec.1 (CNX, BTU, FDX, SLB, ETN, UTX, more)

Filed in dividend, Gold, Gold Investment, Gold Prices, lead, o by on December 1, 2010 0 Comments

I happened to be watching some television with my teenage daughters yesterday and caught a show called “The Buried Life” on MTV. The episode focused on 4 individuals that were given $25K each and their assignment was to try and turn that money into $1 million in a month. One of the participants decided to visit Wall Street and met up with well-known market pundit Jim Cramer, who convinced his MTV protege that Gold was the place to be. Taking Cramer’s advice, the subject jumped into risky gold-related options and quickly turned his original $25K into more than $100K. When I see mainstream media references like these to hot (and often overbought) investments, I know that a top could be near. Just a few years ago, an episode of “The Sopranos” detailed a woman’s failed attempt to buy and flip a house — a big sign of the real estate bubble. Gold prices still look fine technically, but the buying mania is no different than we have seen the past few years with real estate and oil prices (which hit nearly $150 a barrel, only to plunge all the way back down to $40, later settling around $80). I want investors to be very careful with gold right now, as many people are in this crowded trade and history shows that things can turn sharply lower when you least expect them to. We’ll be publishing a video on this very topic a bit later today on, so be sure to check that one out. Getting back to today’s action, the markets rebounded strongly from the previous couple of down sessions. Coal producers were up sharply with Consol Energy ( CNX ) and Peabody Energy ( BTU ) leading the way. Elsewhere, buyers pushed up stocks like FedEx ( FDX ), United Technologies ( UTX ), Eaton Corp ( ETN ), and Schlumberger ( SLB ). On the flipside, MLP play Enterprise Products Partners L.P. ( EPD ) and Health Care REIT ( HCN ) were lower following both companies’ announced common stock offerings. I just heard from my publisher today that the e-book version of my new book “Be a Dividend Millionaire” should be available in February 2011, with a traditional print version to follow in May. I’ll be sure to pass more info about the book’s impending release as we get it. As always, check out our industry-leading Best Dividend Stocks list for the top dividend names to put money into right now. Thanks for reading, and I’ll see you tomorrow! Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a

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Market Wrap-Up for Dec.1 (CNX, BTU, FDX, SLB, ETN, UTX, more)

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