Wall Street Watch

This page is to let our followers of the stock market know where Mr. McGhee has stock holding or recommendation on selected stocks. Mr. McGhee is not a financial advisor and you should consult with your own financial advisor before making any investment. Mr. McGhee is in no way responsible for any losses you may incur from investing in stocks on this page.

Long term holdings- Buying and holding for 5 to 10 yrs and buying and selling gradually over time

Berkshire Hathaway (BRK'A) today's  price $120,473.00

Exxon Mobile (XOM) today's price $59.87

CSX Corp (CSX) today's price $52.46

Diamond Offshore Drilling (DO) today's price $62.05

Research In Motion (RIMM) today's price $52.94

Google Inc (GOOG) today's price $476.69

Coca-Cola Bottling (COKE) today's price $49.08

Short term holdings- Buying and selling daily or less than a long term out look

Sprint Nextel (S) today's price $4.318

Simon Property Group (SPG) today's price $86.05

Baidu.com (BIDU) today's price $75.952

Recommend to stay away from oil (today's price $78.70) and gold (today's price $1255.60) commodities both of these are heavily over valued. Right now oil is hovering around $75 to $80 range when the US dollar is a lot stronger than the previous years with oil at these prices, hence we are seeing a false/speculative high value. Unemployment is at all time high. Reported unemployment is around 10% but that does not account for those who unemployment benefits have run out and are no longer counted. If you include those, the US has an unemployment around 19%. With these type of numbers who is buying gas the main end use of crude oil? I tell you who, no one! The hedge funds, whom which never take delivery of a single barrel of oil, have the price levels falsely elevated with speculation. The average trader has little effect on market prices but hedge funds with billions to buy and sell can and do make a huge difference in the price at the pump. Gold is in the same state as oil, once the market realizes it has sucked all it can get out of gold speculation the price will plummet rapidly, like wise with oil. This has happened before in the 80's. I feel the true price of oil based on the currency rates of today, oil should be around $53 to $58 a barrel. Gas should be around $1.65 to $1.70 a gallon. Gold should be around $730 per ounce.

All price quotes are from end of trading as of 4pm 25 June 2010 and are not real time updates.