Timber................

Here we go on the downside. Pulte (PHM) is heading south - it looks like the rate increases are looking less and less temporary, and the inverted yield curve more and more likely. Unfortunately, I am still down net on the day quite a bit as my gold share are taking a licking. I still believe in the gold cycle this fall and I may purchase more .......... but at the right price. Who knows if a correction in gold is just getting started? We will see.

Here is the portfolio snapshot:


Regards,

BG