Sunday, February 13, 2011

20110211 Weekend, Bonds Dollar Precious Metals and Buy The Dip

Dow 12,273.26 +43.97
Nasdaq 2,809.44 +18.99
SP500 1,329.15 +7.28
30-yrBond 4.71% -0.06

GLD 132.32 -0.53
SLV 29.21 -0.25
PTM 21.17 -0.33

XLE 74.11 -0.01
XLF 17.08 +0.23
VXX 28.02 -0.49

"Buy The Dip" traders were back in action. With the Fed's Permanent Open Market Operations along with the Fed's secret operations to prop up stock indices and hold down short term interest rates, the inflationary bubble in paper assets continues to expand. Some day the shorts will be right. Until then, "buy the dip" continues to work.
Industrial metal copper is roaring.
Precious metals had a nice week. 3rd up week for silver, and gold put in an up week. Silver is in backwardation, which indicates intense demand for the physical. If gold also goes into backwardation, bail out of the dollar.

EGPT 18.60 +0.80 (4.48%). Market Vectors Egypt Index ETF. Egypt's President Mubarak stepped down.

BAL 96.21 -1.13. iPath DJ-UBS Cotton TR Sub-Idx ETN. 52 week range 35.64 - 98.16.
SGG 90.35 -3.11. iPath DJ-UBS Sugar TR Sub-Idx ETN.
TLT 89.46 +1.27. 52 week range 87.30 - 109.34. May be putting in a triple bottom.

CRESY 18.28 +0.05. Cresud Inc. Agricultural land and farming "... production of basic agricultural commodities primarily in Brazil and other Latin American countries."







AAPL 356.85 +2.31. Had a sharp dip on Thursday. HFT gaming the system?







Miners:
JAG 5.23 +0.05. Jaguar Mining Inc. 52 week range 5.06 - 12.20. Watching for sign of strength.
MDW 1.40 -0.01. Volatile. Day range 1.32 - 1.53.
NAK 18.17 -0.02. Possible buy at 11.10.
NG 14.37 -0.13. Possible buy at 9.52.
TGB 5.94 +0.09. Copper and gold.

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