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tv   Nightly Business Report  PBS  September 25, 2009 7:14pm-7:30pm EDT

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>> susie: monday, what happens if 30 million uninsured people are suddenly in the system? some answers as we continue our health reform coverage.
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bankruptcy may make strange bedfellows for mattress maker simmons. the firm plans to file for bankruptcy protection, and will be sold to ares management, which owns rival serta mattresses. simmons hopes to reduce its debt from a billion dollars down to $450 million. mattress sales have suffered in the economic downturn. simmons bankruptcy filing could come within 90 days. >> paul: dove soap is joining forces with brylcreem. consumer products giant unilever is buying sara lee's body care products unit. the price tag is nearly $2 billion. the acquisition boosts unilever's presence in western europe and asia. sara lee will use part of that money for a billion-dollar stock buyback program. the deal is still subject to regulatory approval, but should close next year.
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>> susie: re's a look at what's happening next week: our friday "market monitor" guest is michael hasenstab, senior vice president and portfolio manager of the templeton global bond fund. on the economic calendar: tuesday, the s&p case shiller home price index for july is released; wednesday, the final reading on second quarter g.d.p.; thursday, it's september auto sales, and the august reports on personal income and construction spending; friday, the september employment report.
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>> paul: my guest market monitor this week is mark leibovit, chief market strategist for vrtrader.com, and welcome back to nbr, mark, good to see you >> paul, glad to see you, always good to be back. >> paul: you have been correctly bullish on the stock market in general and gold in particular. we've had a heck of a run on the stock market since march with the dow soaring from 6900 to 9800 level. is it time for profit taking in stocks here? >> it appears so. we've been in an upward channel since march, looking at the dow industrials, there's a risk perhaps of a pullback to nine,000, 8900, maybe, but it's still an upward channel. and the work basically says we're in a bull market here which could last a lot longer and go a lot higher. some of the technical work we're doing, particularly a reverse head and shoulders pattern we put together on the chart shows potential as high as 11003. i was talking 10 three.
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any pullback here in october, november, would be a buy for a move to that higher level. i think some time into next year. >> paul: all right. so still bullish long term on stocks. now, you have been extremely bullish on gold, predicting last april would go from around a $900 per ounce level then, to $1,000 an ounce which it did early this week. good call. where do gold prices head now? >> well, we've only started, paul. there's also reverse head and shoulders measurement in gold up to about 1300 and you know i have a bigger picture number up at 3,000. but our annual forecast model for gold pretty much pinned it all year calling for a high here in the september time frame, and then maybe a little pullback. i think that's what we're starting to see now a little bit of a correction in the gold. and then i see it breaking through, and the 1,000 level is going to become the floor and we're going to start moving up and up into the higher levels i think into next year. >> paul: the forecast mod cell very good. i compliment you on it.
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>> back in january, we said high in september and here we are. >> paul: do you like silver at these price levels, a little over 16 an ounce. >> we have technical up to the high, 21 an ounce, and numbers way, way higher than that. >> paul: so you like it. on your last visit in late april with us, you had four buy recommendations. let's see how they've done since then. first was central fund of canada up nearly 11%, and heckler mining up 83.4%. are you still with them? would you buy them here? i buy them every day. i dollar cost average with an uptrend in the metals that i am projecting, why not. >> paul: hutwo more recommendations back in april. seats see what they did. dennison up 21%, that's four for four, congratulations, good call >> well, the market-- the wind was at my back. let's put it that way. >> paul: do you have some new recommendations, mark? >> well, i would go back and
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stay with the central fund of canada, c.e.f., 60% gold, 40% silver. and as silver moves higher, it's a nice safe way of playing that market short of owning the physical metals. >> paul: to move along we only have a minute. >> s.l.f., the e.t.f. for silver. i would buy that. it's trading around the $15, $16 level. if silver goes to $21-plus, that's going to go up to those levels. my next play would be p.a.l., which is north american palladium. this is a play on palladium, and with all the cheap cars being produced in india and china, there's going to be a lot of demand for palladium and platinum because of the catalytic converter issues so this is a good low-price play. it's three bucks and could probably double. >> paul: one more choice quickly >> one play for the overall market would be the total stock market index, v.t.i.. any pullback weget here in october, november, i would buy
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v.t.i.. dow goes to 11,000 you have total stock market play here. >> paul: do you personally own the securities mentioned here or have other disclosures? you do >> i trade and own these securities, yes, paul, thank you. >> paul: our time has run out. thanks for being with us once again >> thank you, paul, for having me >> my guest, mark leibovit of vrtrader.com. >> susie: that's "nightly business report" for friday, september 25. i'm susie gharib. good night, everyone, and have a great weekend. you, too, paul. >> paul: and you, as well, susie. i'm paul kangas, wishing all of you the best of good buys. "nightly business report" is made possible by: caption test caption test caption test caption test
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this program was made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org
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