Sunday, February 26, 2012

20120224 Weekend

Dow 12,982.95 -1.74
Nasdaq 2,963.75 +6.77
SP500 1,365.74 +2.28
10-YrBond 1.98% -0.01

GLD 172.231 -0.79
SLV 34.37 -0.03
PTM 21.83 +0.00
XLE 76.23 +0.30
XLF 14.67 -0.05
VXX 25.05 +0.92

Dollar lower. Crude oil higher. Precious metals higher.
Look for gold resistance and selling at $1800. Silver lease rate is continuing to trend lower, so be aware of a potential price smash.
If gold and silver can put in a strong weekly close, get long. If the price meanders, expect more weeks of consolidation.

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