- International Assets Reports $6 Million Earnings for Second Quarter and Six Month EPS of $2.26 - Int’l Assets (NASDAQ:IAAC) is a play on commodities and emerging markets.
Key quote: “Investors should note that the Company held commodities inventory at the end of the second quarter that was valued on the balance sheet at $16 million less than its fair market value.”
- HRT: Basic Chart for ARRHYTHMIA RES TECH - I haven’t traded Arrythmia Research (NYSEMKT:HRT) for a while, but I like the tightening coil. If it breaks upward, I will be a buyer.
- Synchronoss falls on 3G iPhone setback - Synchronoss (NASDAQ:SNCR) shares drop to around $11 on news that it will not participate in 3Q iPhone rollout. The company has a lot of cash, but will probably see declining revenues and profits. Value trap in my opinion.
Update on gold: Gold sure took a beating recently. I continue to be long a bevy of gold mining stocks and intend to stay long unless recent support breaks. This chart from Dan Norcini (note: PDF) courtesy of www.jsmineset.com, shows the levels I am watching.
While I am a bit less bullish than I was on Friday, its way too early to bail on the call. Oil is at or near record levels, agricultural commodities are booming, and the dollar is making only a feeble rally despite the verbal intervention of central bankers and politicians worldwide. The yellow dog should regain footing soon. If not, I’m out.
DISCLOSURE: Long positions in many gold stocks. No positions in IAAC, HRT, SNCR.