Needless to say, I couldn’t pull the trigger today on GE (GE: web, chart, Y!)  or Ford (F: chart, web, Y!).  As I’ve mentioned before, I think both stocks are worth looking at for long-term runs, but I don’t think enough confidence has returned to the stock market to buy any equities, but I’m still trying to play with gold.

It’s tough to tell where the ceiling will be put in place on GLD, but I think money will continue flowing into the precious metal as a safe haven until the confidence returns, both to the markets and to government financial policy.

Unfortunately I think it will be a while before confidence returns to either one.

Flash Player 9 or higher is required to view the chart Click here to download Flash Player now

Investing Ford, GE, GLD, gold

For the third day in a row, gold has strengthened as the market continues to digest the U.S. economic plan (or lack of a plan to be more specific).

Analysts claim that stocks lost ground yesterday even in the wake of a positive retail sales data report because of the lack of confidence in the governments economic package and an overall lack of investor confidence in the economy.

Gold traded up $4.70 an ounce to $948.50 in New York, the highest the metal has been since July.

Corner Office Comments

My buy in of the Streetracks Gold Trust (GLD: chart, web, Y!) last Tuesday seems to be gaining, and I suspect the trend will continue, at least until Tim Geithner releases more details on the bank and credit bailout… round two.

Investing GLD, gold

I’d like to say that today’s market response to the Tim Geithner press conference was a surprise, but I can’t.  I’d also like to say that I say it coming, but I can’t.

Geithner revealed few details about what will essentially become federal bailout round two.  The biggest detail he did reveal however was that it was going to cost another $1.5 trillion, spending $500 billion to recapitalize banks and the other trillion to support consumer and business lending.

His words didn’t even make it from his lips to the microphone and the market took a plunge.

I watched gold (GLD: chart, web, Y!) skyrocket while nearly everything else went directly to red.  Didn’t even turn pink first.

So I picked up some GLD at $90 under the notion that inflation will surely rise with the influx of all this money, and equities will suffer accordingly.

To take a page out of the Winston playbook, I’m going long on gold as a hedge against my equities.

If only I could get crude to follow in its golden commodities footsteps.

Flash Player 9 or higher is required to view the chart Click here to download Flash Player now

Banking, Investing bailout, GLD, gold, Tim Geithner, treasury