Market Update: 2009-08-21

Hello everyone,

I guess you are wondering why I haven’t posted anything in months. Well, it is simple: nothing material has changed with regard to my opinion of the market. My portfolio is near a record high for the percentage of my portfolio that is held in cash. And for the most part, other than two agricultural ETF (DBA) purchases during the past month, I am not trading much at all right now. I did unload all of my remaining financial and bank stock holdings earlier this week, but that’s about it. If you are interested, you can follow my every trade on the Sinocentury Facebook fan page.   

I am leaving for China tomorrow, so I hope to have some comments to share about how China’s economy is weathering the storm upon my return.  I will visit Shanghai, Beijing and of course the pearl farming area in Zhejiang province to source some premium freshwater pearl jewelry for HinsonGayle Fine Pearl Jewelry, on the web at HGpearls.com. I am really excited about these pearls, because this will be a new line of what will be the best freshwater pearls available. The goal is to further differentiate HinsonGayle by moving the brand towards an upscale image.

In the meantime, I pretty much agree with my Charles Guest (my dad) as to where we stand in the markets. His is getting ready to contribute this week’s Market Update, and it is a very good read because he outlines nine reasons why the market is in trouble.

I’ll see you when I return from China. I have a feeling by the time I get back the markets will begin to change course. We will know more later. Until then, Happy Investing!  And be sure to enjoy my dad’s market commentary!