Tuesday, March 08, 2011

20110308 PM

Dow 12,214.38 +124.35
Nasdaq 2,765.77 +20.14
SP500 1,321.82 +11.69
30-yrBond 4.66% +0.05

Dollar higher.
Stock indices were slightly lower then turned positive to recover yesterday's sell off. This is strong price action.

GLD 139.36 -0.36
SLV 35.18 -0.05
PTM 21.20 -0.17

XLE 77.15 -0.64
XLF 16.77 +0.36
VXX 31.81 -0.68

EXK 9.94 -0.26. Early weakness to test Monday's opening gap higher. Quick bounce off those lows, stabilized, and now looks good. Went long at 9.78 this morning. Stop at morning low of 9.34. Expect further price choppiness. This afternoon sold March 10 covered calls at .45.
GPL 4.87 -0.09
MDW 2.25 -0.14. Bought at 2.22 before close.
OKOFF 2.68 -0.09
UXG 7.94 -0.19
VGZ 3.74 -0.11

GOLD 73.75 -3.26. Randgold Resources Ltd. Potential buy after regional instability subsides.
JDSU 25.38 -0.11. Down 10% after hours. Has high volume high at 29.12. Potential buy at 17.5 in a couple months.

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