Thursday, July 28, 2011

20110728 PM, MDW

Dow 12,240.11 -62.44. Below 12,200 may set off deeper slide.
Nasdaq 2,766.25 +1.46
SP500 1,300.67 -4.22. June 1262 and 1249 are tomorrow.
10-YrBond 2.95% -0.03

Political wrangling about debt ceiling continues before the supposed August 2 budget deadline. When this resolves, there could be a relief rally with correspondent selling of safe-haven metals. Wanted to lighten up on metals before this news event.

MDW 2.40 +0.08 on light volume. Midway Gold Corp. Day range 2.29 - 2.41. 52 week range 0.38 - 2.41. Sold 1/3 at 2.37 for 1.72 gain (260%).

RBY 4.17 +0.96 (29.91%). Rubicon Minerals. 52 week range 3.17 - 6.34. News of AEM making investment.
AEM 56.83 -3.43 (5.69%). Agnico-Eagle Mines. Going to 50.

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