Rising Gas prices. AMNP: 1.38 +0.02 (1.47%)

Yahoo reports oil jumped above $79 and asian markets rose during US earnings season. As people regain confidence in the US economy, the USD weakens -- investors tend to reallocate increasing capital to investments in emerging countries.

Sierra Gold corp is up 40% since I've first mentioned it on my blog and is up 150% since I have stumbled upon it.

Now waiting on apple's earnings report....

Update on the Gold rush: AMNP 1.17 +0.14 (13.59%)

Jobless claims have dropped to the lowest levels this year comparable to those in January. The market continues to rise after consumer spending and corporate profits increased. Retailers saw their first gains since one year ago showing consumer confidence, a valuable signal that the economy is on the rise. 49% of the basic goods sector gained more than 2% with 44% of the sector gaining 0-2%, a continuing effect of the falling dollar.

AMNP is up 62% from the past three days as I write this and has gained the attention of a private equity research group in Canada which specializes in small to midcap corporations.

Get in quick, but beware the precious metals bubble.

A new Frontier AMNP 0.990 +0.140 (16.47%)

Sierra Gold Corp (OTC:AMNP), an American gold mining company focused on discovery and production of gold mines, has increased 32% total in the past two days after oil-producing countries such as Russia, China, and France announced they would stop using the dollar to price crude oil. The dollar weakened due to decrease in demand and value of gold and oil rose as investors look to precious metals as a more stable substance. The EUR/USD ratio increased for the period as the USD weakened. We'll look to see if the trend is sustainable. Let's hope inflation doesn't kill us.

Financials:

Market Cap: 80.75 million

Total assets: .35 million

Liabilities: .39 million

Equity: -.04 million (decrease in value of equity such as property, equipment)

Cash: .05

net change in cash from quarter 1 to quarter 3: 0.01, 0.0, .05

avg volume: 268,000

Volume for past two days: 3 million

News: Sierra Gold Corp has signed a letter of intent to acquire 75% of Discovery Day Gold Project for $2 million paid over two years. The project covers 950 acres. To raise the funds Sierra is offering an additional 2 million shares. Analysts predict a huge upside for the acquisition.

In addition, Gold Corp (mrkt cap: 34.42 bil) just paid $8 billion for mines next to Sierra's high-yield potential mines. With money like that, it's possible Sierra is just waiting to be bought out which would send valuation through the roof.