Tuesday, April 05, 2011

20110405 PM

Dow 12,393.90 -6.13
Nasdaq 2,791.19 +2.00
SP500 1,332.63 -0.24
10-YrBond 0.33% 0.00

Indices were higher and closed near unchanged.
Gold made an all-time high. Silver is a rocket looking to test 40. The lower-priced miners, which had been going nowhere while the metals climbed, finally climbed higher with some nice percentage gains.
Brent oil made a 2.5 year high at 122. WTI oil closed down slightly at 108. This divergence will resolve, likely to the upside for WTI oil.

GLD 142.05 +2.21
SLV 38.34 +0.76
PTM 21.06 +0.09

XLE 80.28 +0.24
XLF 16.50 -0.01
VXX 28.29 -0.51

MDW 2.12 +0.27 (14.6%)
EXK GPL UXG. Hedged these long positions by selling April covered calls.

AAPL 338.89 -2.30. Nasdaq 100 announced it will rebalance to reduce Apple from 20% to 12%. This weekend we mentioned Apple was showing weakness. Who had prior knowledge of this announcement?

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