Worth reading:

• International Assets Reports $6 Million Earnings for Second Quarter and Six Month EPS of $2.26 – Int’l Assets (Nasdaq:IAAC) is a play on commodities and emerging markets. Key quote: “Investors should note that the Company held commodities inventory at the end of the second quarter that was valued on the balance sheet at $16 million less than its fair market value.”
• HRT: Basic Chart for ARRHYTHMIA RES TECH – I haven’t traded Arrythmia Research (Amex:HRT) for a while, but I like the tightening coil.   If it breaks upward, I will be a buyer.
• Synchronoss falls on 3G iPhone setback – Synchronoss (NASDAQ:SNCR) shares drop to around $11 on news that it will not participate in 3Q iPhone rollout. The company has a lot of cash, but will probably see declining revenues and profits. Value trap imo.

Update on gold: Gold sure took a beating yesterday, something many of you pointed out in your emails.  I continue to be long a bevy of gold mining stocks and intend to stay long unless recent support breaks.  This chart from Dan Norcini (note: PDF) courtesy of www.jsmineset.com, shows the levels I am watching.

While I am a bit less bullish than I was on Friday, its way too early to bail on the call.  Oil is at or near record levels, agricultural commodities are booming, and the dollar is making only a feeble rally despite the verbal intervention of central bankers and politicians worldwide.  The yellow dog should regain footing soon.  If not, I’m out.

DISCLOSURE: Long positions in many gold stocks.  No positions in IAAC, HRT, SNCR.

Related posts:

1. Quick hits (gold stocks, bankruptcy stocks, RHD, market outlook, FPBF.PK, CVM)
2. Gold hits all-time high
3. Gold resumes march upward