Monday, June 06, 2011

20110606 PM, JAG

Dow 12,089.96 -61.30
Nasdaq 2,702.56 -30.22
SP500 1,286.17 -13.99
10-YrBond 3.0020% +0.0050

Another down day tomorrow will set up a nice bounce.

DX-Y 74.01 +0.31. US Dollar Index Futures Cash

GLD 150.48 +0.26
SLV 35.71 +0.37
PTM 21.22 -0.09

XLE 73.56 -1.70
XLF 14.93 -0.29. 52 week range 13.29 - 17.20.
VXX 22.75 +0.38

JAG 4.64 -0.32 (6.45%). Jaguar Mining Inc Ordinary Shar. 52 week range 4.11 - 10.35. Setting up long-term buy.

Mining political risk:
California extends ban on gold prospectors.

Peru experienced political risk over the weekend (new President):
SCCO 30.86 -3.86 (11.12%). Southern Copper Corp. Huge downside volume to close at lows of day. 52 week range 25.65 - 50.35.
PAAS 30.79 1.57 (4.85%). Pan American Silver Corp. After initial gap down this morning, there were buyers that took price to nearly break-even. Sold off and closed at lows of day.

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