Tuesday, March 01, 2011

20110301 PM

DOW 12058.02 -168.32
NASDAQ 2737.41 -44.86
SP500 1306.33 -20.89

Energy divergence with sector stocks giving up price, while oil flirted with 100. Oil looks to go higher in the short term.
Precious metals higher. Gold made all time high. With no upside resistance, momentum money may now flow into gold.

GLD 140.03 +2.37
SLV 33.87 +0.76
PTM 21.83 +0.52

XLE 77.07 -1.47
XLF 16.49 -0.36
VXX 32.45 +2.27

GPL 4.52 +0.44.

NUGT 37.88 +1.19. Direxion Daily Gold Miners Bull 2x Shares. Long at 38.
UXG 7.96 +0.70. Yesterday had negative divergence due to news. Missed buying that dip. Went long today at 7.73.

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