Wednesday, October 13, 2010

20101013 1523PM

Dow 11,137.45 +117.05
Nasdaq 2,450.82 +32.90
S&P 500 1,182.10 +12.33
10-YrBond 2.4310% +0.09

It's "go go go" with headline Dow making another close above 11,000.
Precious metals continue higher, with gold and silver setting up for a spectacular move higher. A technical correction would make the move higher more sustainable. With the small size of the gold/silver markets, gold could easily spurt to $1400 if money moves in. The miners are starting to move.

As gambles, had a tiny "mental" hedge that needed to be cleaned up.

BGZ 11.10 -0.3596. 41% loss on a few hundred dollars. Understanding this was a long-shot hedge on a tiny position, even a 20% stop would have been prudent.

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