Poor Richard’s Report
Over 300,000 readers
I have received to valid reports from services that I trust, but must remain nameless because of heavy fines for plagiarism.
They both speak of testing the lows of October 2008. November 12, 2008 was a 90% down day on heavy volume.
If gold moves below $714 that would also be bearish, along with stocks declining. If the Oct lows are broken for the DJI (Dow Jones Industrials) look for a move to the 7200-7400 area.
The only markets rising are the Japanese Yen, the U.S. dollar, and U.S. Treasury bonds.
Rising tides (markets) carry everything with it, but when the tide begins to fall some are left to bake in the sun.(Brokers and financial institutions).
A safe to be right now is in the two year Treasury bond. I is state tax free and being short in maturity it has very little price fluctuation. Be careful where you buy them. One quarter of a point is the max you should pay. That is $2.50 per bond. In size much less.
An addendum to my last letter, Newalta Income Fund will become a corporation Jan 1, 2009. The monthly dividend of 18 ½ cents will be paid in December. The new corporation will be paying 20 cents quarterly. That is over just 8% on today’s closing price of $6.51. It is still selling under 10 times earnings and have no off balance sheet financing. So everyone that has sold has sold. Watch for the stock to start trending up.
That is it for now. Stay calm and cool. Lot’s to still come.
Cheerio !!!!
Richard C De Graff
256 Ashford Road
Eastford Ct 06242
860-522-7171 Main Office
800-821-6665 Watts
860-315-7413 Home/Office
860-208-0256 Cell *
rdegraff@coburnfinancial.com
This report has been prepared from original sources and data which we believe reliable but we make no representation to its accuracy or completeness. I do not receive any remuneration or fees for writing this letter. I do it for the love and truth and the sheer joy of expressing my opinion. Coburn & Meredith Inc. its subsidiaries and or officers may from time to time acquire, hold, sell a position discussed in this publications, and we may act as principal for our own account or as agent for both the buyer and seller. The opinions expressed in this letter are mine and not necessarily those of Coburn & Meredith.
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