From the commentary I listen to, there seems to be a consensus that the US stocks are overvalued and due for a pullback anyway, so you are probably right. A few might switch into gold and oil as a result of this conflict - oil jumped considerably on the news. However, I don't think its necessarily bad for some of my metals stocks. Some of the gold explorers and miners I hold went up a bit on Friday after the news. The gold price continues to strain higher and higher, which would be good for DTR in my opinion.
DTR and TMG are seeing profit taking every step of the way, but I don't think this conflict will be bad for them as such. I think the drops we saw on Friday is just end of week trading and profit taking. If the rare earths and antimony are as necessary as they say, I would expect them to rise - albeit a little slower perhaps. On the back of a US funding announcement, they could jump up however.
Just my opinion here...and I'm no veteran of the stock market....but I do listen to a lot of commentary at the moment....all are bullish on gold and gold miners. Particularly since the US is doing nothing (that we know of) about its mounting debt, the devaluation of the dollar and Central Banks buying gold....
DTR Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
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