Markets: U.S. Stocks, The Economy

What really should get people nervous about the economy is the economy! The economy is really sea, it is one of the reasons the stock market is going down, the other one is of course that the Federal Reserve pricked the bubble and the air is coming out. (Select Sector Financial Select Sector SPDR ETF (XLF), SPDR S&P 500 Index ETF (SPY), SPDR Dow Jones Industrial Average ETF (DIA), iShares Russell 2000 Index ETF (IWM))

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Gold Stocks Making New Highs

Several gold stocks that I follow, that I own, made new 52 week highs and several others did not quite make 52 week highs but are trading at the highest point of this calendar year.

Related Exchange Traded Funds: Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD)

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.

Why Is Goldman Sachs Picking On Gold?

Goldman Sachs (GS) came out to encourage their clients to short Gold. And you can think of all the potential shorts out there, why even short Gold? I mean, if Gold is at 1,200 and Goldman thinks its going to 1,000, if a stock is at 12 and you think the downside is 10, there is really not a lot to short there.

Why is Goldman Sachs (GS) picking on Gold with so many other good shorts out there? Most likely it is because Goldman Sachs (GS) is short gold itself and needs to cover it or just wants to buy Gold and they want to push the price down so they can buy at a better price. (Market Vectors Gold Miners ETF (GDX), SPDR Gold Trust ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG))

Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.