DOW 8,331.16 -137.95
NASDAQ 1,681.97 -33.95
SP500 892.61 -15.74
Looking for more weakness as last two month's gains are taken.
Eastern Europeans who took home loans over the past ten years that were denominated in Swiss Franc are taking huge losses not only on real estate, but also on the currency moves. Denominating debt in non-local currency will lead to sure ruin - a question not of IF but of WHEN. Some politicians in Japan are saying they may not want to buy US debt in the future unless it is issued in Yen. If America finances debt in other currencies, so-called samurai bonds, the economic breaking of America will happen much faster.
GLD 91.13 +0.43
SLV 13.948 -0.072
PTM 13.5955 -0.2545
SMH 19.00 -0.37. Short at 18.93. Semiconductor Holders Trust is not leveraged. Can get to 16 in a few days.
TWM 49.82 +2.59. Set a trailing stop on this long position.
XLF 11.68 -0.32
XLE 49.94 -0.642
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