A Pair of Prospecting Prospects
The market is starting to feel toppy this week. Doug Kass pointed out the other day that the S&P 500 appears to be in the process of forming a triple top, which would be a traditionally bearish development. I sold some of my shares in refiners such as Tesoro (TSO) and Phillips 66 (PSX) late Wednesday. They had run up so much since I bought and profiled them in late April, it just felt right to take some profits.
I wish I could say the same about some of the small miners and exploration-and-production companies I own, such as Warren Resources (WRES). These companies have been hurt primarily by the massive inflation in production costs in the mining and energy exploration sectors....376 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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