20100527 PM

Dow 10,258.99 +284.54
Nasdaq 2,277.68 +81.80
S&P 500 1,103.06 +35.11
10-Yr Bond 3.34% +1.20

Yesterday indices sold off into the close, which created doom & gloom anticipation for the overnight and morning. China said it was not considering selling EU debt, which helped to cause relief rallies around the world.
Daily swings of 3% - 5% does not inspire confidence for the average retail investor. When will retail investors leave the gambling casinos?
Oil up 8% in two days.
Dramatic rebound in Euro with dollar dramatically weaker. Euro strength is likely intervention by central banks to prop up economies.
Precious metals slightly higher.

Took off more long positions before the holiday weekend. Expect light volume tomorrow.

GLD 118.69 +0.22
SLV 18.12 +0.38
PTM 18.52 +0.37

XLE 54.07 +2.20
XLF 15.01 +0.65

VXX 28.33 -2.70

OLO 12.28 +0.59 (5.05%). PowerShares DB Crude Oil Long ETN. Trailing stop didn't close the long position, so sold it at 12.28 for about .66 per share gain. OLO trades less than 80,000 shares per day.
SSO 37.20 +2.37 (6.80%). Trailing stop sold long position in the morning at 36.39 for 2.85 per share gain.

BIDU 73.51 +5.92
BP 45.38 +2.97. Initial results of attempt to stop Gulf oil leak look good.
RBY 3.59 +0.32 (9.79%). Big volume. Maybe a low is in.