20091130 PM

Dow 10,344.84 +34.92
Nasdaq 2,144.60 +6.16
SP500 1,095.63 +4.14
30-yrBond 4.1940% -0.0170

Last Thursday, Thanksgiving, Dubai World announced it was unable to make payments on debt of $59M - 100M.
Friday the markets opened down and moved off the lows throughout the short trading day. The market and metals sold off, while the dollar moved higher.

GLD 115.64 +0.58
SLV 18.14 +0.19
PTM 18.40 +0.02

XLE 56.84 -0.18
XLF 14.66 +0.38

JJC 43.49 +0.68
RBY 4.35 +0.06

AIG 28.40 -4.90
BBY 42.83 +0.00

EXK 3.73 +0.00. Showed relative weakness during the trading day, though closed flat.
TGB 3.40 +0.31 (10.03%)

20091124 PM, BBY, Copper

Dow 10,433.71 -17.24
Nasdaq 2,169.18 -6.83
SP500 1,105.65 -0.59
30-yrBond 4.257% -0.03

Asia was down on news that China banks need more money.
Indices quickly sold off at the open, then recovered throughout the day.
US markets will be closed Thursday and 1/2 day Friday.

GLD 114.73 +0.44
SLV 18.25 -0.02
PTM 18.016 -0.014

XLE 57.66 +0.33
XLF 14.70 -0.11

JJC 43.33 +0.23. Yesterday made 52 week high of 43.9. iPath DJ AIG Copper TR Sub-Idx ETN.
RBY 4.29 -0.08

BBY 42.85 -0.86. 52 week range 17.80 - 44.32. Considering buying tomorrow and selling Friday.

EXK 3.73 -0.13. Yesterday made 52 week high of 4.

Copper producers to consider on a pullback:
NXG 3.24 +0.03
PCU 34.82 -0.23
TGB 3.08 -0.07

20091118 PM

Dow 10,426.31 -11.11
Nasdaq 2,193.14-10.64
SP500 1,109.80 -0.52
30-yrBond 4.299% +0.049

GLD 112.25 +0.28
SLV 18.23 +0.10
PTM 17.7997 -0.1503

XLE 58.44 -0.23
XLF 14.98 +0.12

JJC 43.31 +0.29. Went long at 43.25.

DBB 20.74 +0.00
DBA 26.25 +0.01

EXK 3.66 +0.22. 52 week high with big volume.
RBY 4.27 +0.02
TRE 3.64 +0.05

20091118 1516

Dow 10,408.02 -29.40
Nasdaq 2,188.13 -15.65
SP500 1,107.92 -2.40
30-yrBond 4.2990% +0.0490

Market tested lower prices. If the lower prices are rejected into the close, look for a retest of Monday highs later this week.
Options expire this weekend.

GLD 112.17 +0.20
SLV 18.20 +0.07
PTM 17.73 -0.22

XLE 58.32 -0.35
XLF 14.95 +0.09

JJC 43.22 0.20. Went long at 43.25.

RBY 4.25 +0.00

20091118 0935

Dow 10,409.30 -28.12
Nasdaq 2,195.96 -7.82
SP500 1,108.36 -1.96
30-yrBond 4.253% +0.003
Dollar 75.027 -.342. Is testing below 75.

Economic news has new home construction plunging unexpectedly. Speculation that buyer tax credit will be extended and expanded.

Indices are down only fractionally, so looking for intraday recovery and in the next couple days a retest of Monday highs.

GLD 112.51 +0.54. Another all time high.
SLV 18.40 +0.27
PTM 17.95 +0

XLE 58.68 +0.01
XLF 14.85 -0.01

DBA 26.55 +0.31
DBB 20.80 +0.06
JJC 43.46 +0.44. Look to go long near day low of 43.244.

RBY 4.23 -0.02. More relative weakness is troubling for the longs.
TRE 3.67 +0.08

20091117 PM, Copper

Dow 10,437.42 +30.46
Nasdaq 2,203.78 +5.93
SP500 1,110.32 +1.02
30-yrBond 4.25% -0.008

Higher: dollar, market indices, metals. The relationship of dollar move higher sending the market indices lower (and vice-versa) will likely reassert itself tomorrow.
Staying long the metals. May evaluate lightening up on Friday.

GLD 111.97 +0.34
SLV 18.13 +0.12
PTM 17.95 +0.20

XLE 58.67 -0.10
XLF 14.86 +0.04

ANO 0.82 +0.04
EXK 3.44 +0.13. 52 week high.
NGD 4.35 +0.07
RBY 4.25 -0.01
TRE 3.59 -0.03

Copper and base metals:
DBB 20.74 -0.13. PowerShares DB Base Metals. Aluminum, zinc and copper.
JJC 43.02 +0.09. iPath DJ AIG Copper TR Sub-Idx ETN.

20091116 PM

Dow 10,406.96 +136.49
Nasdaq 2,197.85 +29.97
SP500 1,109.30 +15.82
10-YrBond 3.331% -0.098

Some divergences in indices and components; not all components are strong.

Dollar quickly sold off when Bernanke spoke, sending commodities and indices up. March 2008 the dollar index hit 71.05. Over several years the dollar can go to 52 against the basket of peer paper currencies.

GLD 111.63 +1.89. Gold higher with volume. Gold is above all highs so there is no resistance. Anyone picking specific higher numbers is using projections while anyone calling a top at these prices will likely be receiving a margin call. The inflation-adjusted high of gold is around 1760, though that price was traded for less than a day so it won't present much inflation-adjusted price resistance. Gold looks to quickly go to 1200. If gold goes to 1200 the dollar will be in 72s, which will cause energy and other import prices to spike. Year-end gold of 1250 is quite achievable.
SLV 18.01 +0.86. Silver for December delivery launched 1.02 higher with volume. Silver can follow through to 22.
PTM 17.75 +0.55

XLE 58.77 +1.50
XLF 14.82 +0.16

FXI 46.35 +0.97
FXP 7.26 -0.33

DBA 26.05 +0.50. 52 week range 21.52 - 28.87. There are widespread reports of feed corn moulding in the fields.

SRS 8.53 -0.40. Made 52 week low today. 52 week range 8.36 - 295.72.

BBY 42.93 +1.05. Near 52 week high.
F 8.71 +0.30. Near 52 week high.

ANO 0.78 +0.03
GBG 1.62 +0.06
GOLD 83.88 +3.00
NGD 4.28 +0.13
RBY 4.26 +0.00. Day range 4.20 - 4.39. Other miners up and this closed flat.
SWC 9.03 +1.33
TRE 3.62 +0.12. Nice move on nice volume. Watch how it handles resistance around 4. Jim Sinclair audio interview from last Friday.

20091113 Weekend

Dow 10,270.47 +73.00. Resistance is 10,300.
Nasdaq 2,167.88 +18.86
SP500 1,093.48 +6.24
10-YrBond 3.43% -0.0170

GLD 109.77 +1.56
SLV 17.15 +0.23
PTM 17.30 +0.54

XLE 57.26 +0.35
XLF 14.70 +0.01

Gold looks to test 1130. After closing above 1000 for several weeks, the four-digit round number has been decisively overcome. The risk for shorts is that gold jumps higher to 1200 some night and then goes to 1300.
Platinum had a good week while silver again lagged gold.

Bonds were higher today and the dollar was lower. People are beginning to whisper about the possibility of a worldwide rolling currency crisis. A currency crisis could start in Eastern Europe and drag down the Western European banks that made housing loans in Eastern Europe. Australia, Norway, and Israel have recently raised rates and these may be safer paper currencies.

EXK 3.23 +0.12
FXP 7.59 -0.26
GENZ 49.28 -3.89. Below March 6 low on huge volume.
MMG 0.65 +0.06. Intraday 52 week high. 52 week range 0.11 - 0.80. While .80 may have been a bad tick, the .70s were traded.
NGD 4.10 +0.29
NXG 3.02 +0.08. Buy at 2.41.
RBY 4.26 +0.15
ROY 4.14 +0.10
SLW 15.23 +0.35
STT 40.52 -0.14. Potential short on a bounce.
TRE 3.45 -0.03

20091111 PM, COMS

Dow 10,291.26 +44.29. 52 week high.
Nasdaq 2,166.90 +15.82
SP500 1,098.51 +5.50
30-yrBond 4.414% -0.001

Veteran's Day holiday with banks closed.
Dollar slightly higher and metals higher.
Gold made another new high and looks to test 1134.

GLD 109.60 1.21
SLV 17.29 0.26
PTM 16.90 0.62

XLE 58.19 0.02
XLF 14.97 0.20

COMS 5.69 +0.28. After hours news that HP will buy our 3 Coms. Huge call options volume before the news was announced.
EXK 3.27 +0.04. Intraday 52 week high.
GBG 1.59 -0.02. Down on light volume. Consolidation. Fundamentally a potential long.
SRS 8.99 -0.33. UltraShort Real Estate ProShares. 52 week range 8.46 - 295.72.

20091111 1538

Dow 10,289.90 +42.93
Nasdaq 2,165.28 +14.20
SP500 1,098.35 +5.34
30-yrBond 4.414% -0.001

Little market activity with Veteran's Day and bank holiday in the USA.

Dollar slightly higher and metals also slightly higher.

GLD 109.42 +1.03
SLV 17.25 +0.22
PTM 16.83 +0.55

XLE 58.17 -0.04
XLF 14.94 +0.17

20091110 PM

Dow 10,246.97 +20.03. Another new high this year.
Nasdaq 2,151.08 -2.98
SP500 1,093.01 -0.07
30-yrBond 4.415% +0.014

Indices and dollar closely followed their inverse correlation.

GLD 108.39 +0.20
SLV 17.03 -0.26
PTM 16.28 -0.12

XLE 58.21 +0.04
XLF 14.77 -0.05

20091109 PM

Dow 10,226.94 +203.52
Nasdaq 2,154.06 +41.62
SP500 1,093.08 +23.78
30-yrBond 4.401% +0.007

Market indices gapped higher and steadily went higher throughout the day.
Metals higher. Gold closed over 1100. Next prices are 1120 and 1140.

GLD 108.19 +0.76
SLV 17.288 +0.198
PTM 16.40 +0.15

XLE 58.17 +1.09
XLF 14.82 +0.51

RBY 4.33 +0.14. 52 week high, set last month, is 4.8.

EXK 3.34 +0.16 (5.03%). 52 week high. 52 week range 0.83 - 3.42.
RBS 13.52 +1.11 (8.94%). ROYAL BANK ADS. Big price move the recent low.

20091107 Weekend, MPUCF, VIP

Dow 10,023.42 +17.46
Nasdaq 2,112.44 +7.12
SP500 1,069.30 +2.67
30-yrBond 4.3940% -0.0180

Gold touched 1100 intraday. All time high. India bought ~200 tons of gold from the IMF this week. Silver has a long way to go before making all time highs.

GLD 107.43 +0.45
SLV 17.09 -0.03
PTM 16.25 -0.19

XLE 57.08 -0.15
XLF 14.31 -0.06

CNSL 14.17 +.01. Putting in a base here. Nearly 10.9% dividend.
MPUCF 0.2155 +0.0414 (23.78%). Miner featured in "Rick's Picks". May be worth watching for when this gap is filled.
UUP 22.83 -.11
VIP 19.52 -0.24. Barron's had a positive article on the Russian mobile carrier that plans to move it's headquarters to Amsterdam.

20091105 PM, UUP trading halt

DOW 10,005.96 +203.82
NASDAQ 2,105.32 +49.80
SP500 1,066.63 +20.13
10-YrBond 3.53% -0.0130

Big gain in market indices. Dollar and commodities mixed.

GLD 106.98 -0.12
SLV 17.12 -0.02
PTM 16.44 -0.02

XLE 57.23 +0.96
XLF 14.37 +0.36

FNM 1.12 +0.03. Fannie is insolvent and continues to be propped up by the Fed (buying the Fannie debt) and the Treasury (taxpayer money injections). The Treasury is going to inject $15 billion more of taxpayer funds into the failed Fannie to keep it alive. Fannie has already taken $45 billion in taxpayer funds. It's unclear why Fannie is being kept alive. FHA is about to implode: The Federal Housing Administration abruptly delayed the release of a long-awaited independent audit of the financial soundness of the agency, citing potential problems with the accuracy of some of the study's economic models.


UDN 28.31 +0.02. PowerShares DB US Dollar Index Bearish.
UUP 22.94 +0.43. PowerShares DB US Dollar Index Bullish. Yesterday 155,000 calls were purchases ahead of FOMC announcement. The options maker then typically hedges in the stock. Today it was halted briefly when it ran out of shares and then reopened with a premium. Many of the open calls were sold just after the stock reopened. Some are saying this is insider trading. It appears to be more of exploiting a quirk in the ETF structure to force a boundary failure.

20091104 PM

Dow 9,802.14 +30.23
Nasdaq 2,055.52 -1.80
SP500 1,046.50 +1.09
30-yrBond 4.434% +0.097
Dollar 75.760 -.626

Fed's FOMC is keeping rates low.
Indices sold off into the close.

GLD 107.10 +0.64
SLV 17.14 +0.14
PTM 16.458 +0.138

XLE 56.27 -0.05
XLF 14.01 -0.20

RBY 4.32 +0

EXK 3.15 +0.16

20091103 PM

Dow 9,771.91 -17.53
Nasdaq 2,057.32 +8.12
SP500 1,045.41 +2.53
30-yrBond 4.337% +0.069

Dollar higher and metals spiked higher. Gold made all time high after news of India buying 200 metic tons of gold from IMF. The surprise was not that IMF is selling (as that was known), as it wasn't China buying. The question is when will China buy?

Fed's FOMC announcement tomorrow at 2:15PM.

GLD 106.46 +2.51. Any time a commodity breaks to all time highs, there is a chance of spectacularly higher prices. The time may not be now, though the time will come.
SLV 17.00 +0.84
PTM 16.32 +0.25

XLE 56.32 +0.72
XLF 14.208 +0.038

ANO 0.80 +0.05
RBY 4.32 +0.22

CNSL 13.82 +0.17
EXK 2.99 +0.24

20091102 PM

Dow 9,789.44 +76.71
Nasdaq 2,049.20 +4.09
SP500 1,042.88 +6.69
30-yrBond 4.268% +0.032

Volatility.
Dollar down, though recovered in the afternoon.

GLD 103.95 +1.42
SLV 16.16 +0.09
PTM 15.99 +0.11

XLE 55.60 +0.35
XLF 14.17 +0.12

CNSL 13.65 -0.17
F 7.58 +0.58. Big volume.
YRCW 1.32 -2.33 (63.84%). Huge volume. 52 week range 0.89 - 6.26.

20091030 Weekend

Dow 9,712.73 -249.85
Nasdaq 2,045.11 -52.44
SP500 1,036.19 -29.92
30-yrBond 4.2360% -0.1090
Dollar 76.41 +.47

The last two weeks of selling made October a down month for stock indices.
The financially teetering CIT provides many operating loans to companies. It is reported CIT will file for bankruptcy protection this weekend.

GLD 102.53 -0.16
SLV 16.07 -0.34
PTM 15.8801 -0.2099

XLE 55.25 -2.18
XLF 14.05 -0.69

RBY 4.05 -0.14

ECUXF.PK 0.67 -0.01
EXK 2.67 -0.11
GBG 1.47 -0.13
NG 4.30 -0.28
SCPZF 3.5728 -0.1864

IPCS 23.87 -0.02. Sprint announced buyout for $24 a share. Scheduled to close late this year or early 2010.

CNSL 13.82 -0.52. Needs to get back above 14, or next support is 12. If long, sell stops should have sold out a week ago.