Where is the year end sell off?

Many seasoned investors are asking the question, “Where is the year end sell off?” . And to be honest I can’t say. I fully expected the markets to close the year with the DOW around the 9000 level and then struggle throughout 2010 until we get a better read on the economy. With only 17 days left in 2009 it appears our thinking may turn out to be wrong.

The DOW currently stands 10,471 and shows no signs of retreating. Yet in some of our favorites stocks that we picked one year ago this month continue to due great too which still indicates to me that the markets have more downside ahead.

Example:

Northgate Minerals (NYSE: NXG) We first profiled this company at .77 on Dec 28, 2008. Read that blog here . Northgate Minerals closed trading on Friday at $3.22 or +300% in the last 12 months.

Yamana Gold Corp (NYSE: AUY) was our second favorite play in the gold mining sector. We first blogged about Yamana on Nov 6, 2008 at a price of $4.67. Yamana Gold Corp closed Friday’s trading session at $12.05 another 300% gainer in the last 12 months. Read the original Yamana Gold blog here

Both companies appear to continue to be strong as does the price of gold itself. This brings me to the query, “are we now trading in a different world” than the one we knew pre-bailout period?

Maybe, maybe not but as I continue to watch the DOW I am amazed at it’s ability to hold the 10,000 level and will not be surprised to see a lot of turbulence in the next 17 days.

Stocks Mentioned In This Article
Stock	More Info
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AUY	| |