newmont mine something too risky. spy is a cautious pick. i like cautious picks. why bet on a possibility? why not bet on the whole market,

i know joe talked about newmont mining 46 1/2. 49.84 high on june 1st. traded back up to 48 again. i think this thing is toppy. big valuation. their last quarter they reported wasn't great. if you want to be in gold, god bless, but don't be in gold vis-a-vis newmont mining. >> and that which was so bullish, which had barrick in the market buying back their hedges, newmont has a shelf registration in place, other guys could be coming to market. if you're a gold miner here there may be no better place to come in the market and raise some stock. not careful about that, there's some heaviness and expectation more guys are coming out. >> the valuations on these are too high. jpmorgan points out the forward p/e on the gold miners 27. historically they should trade about 20. caveat emptor when it comes to the -- >> buyer. >> buyer beware. yeah. the latin coming out. miss bartholomew-f you're watching, you should be proud. my latin teacher in high school. >> mrs. barth. nice. >> miss bartholomew, actually. nun. >> the nuns. >> big buy in the tech sector. dell announcing it would acquire pe

i think newmont and others have filed self-registrations. there could be stock coming on the market there. i think gold combined with the dollar, valuations combined with the dollar, gold is very vulnerable. freeport and some of the copper names should be very vulnerable and i think are high momentum plays actually are trading very well. the places to watch, though, are the emerging markets that have the most commodity exposed economies that would be russia, that would be brazil to some extent. that would certainly be south africa. those are places. and then the fx currencies look at the australian, you know, the aussie, the canadian dollar, some of those other places i would be most wary. >> tell me what you like. what would you put your money into right now? >> one thing that's notable in the midst of this, a few of these economies are doing very well. brazil is one of them. we're looking at a tremendous deal calendar over the next few weeks in brazil. today sandara stating they're spinning out their brazilian entities. if you look at a nu