20101117 PM, UNG

Dow 11,007.88 -15.62
Nasdaq 2,476.01 +6.17
SP500 1,178.59 +0.25

GM will IPO on Thursday. Somehow throughtout the GM bankruptcy they were able to not discharge thier retiree benefits onto the PBGC, which typically would take over pensions after a bankruptcy. The retiree benefits were part of the cause of the bankruptcy, so GM hasn't corrected some fundamental problems.
In the indices, look for a pop on the GM offereing, then look for the stock indices to resume selling off into the weekend.

Oil at 80.49 has been down 10% in a few days.
Gold down 100 in a few days. Can retrace 30% from the recent highs.

GLD 130.38 -0.59
SLV 25.00 +0.07
PTM 19.31 -0.09

XLE 61.70 +0.25
XLF 14.66 -0.10

VXX 48.08 -1.26

LDSH 45.42 +16.09 (54.86%). Ladish Co. has agreed to be purchased by its largest raw materials supplier as it prepares for an anticipated uptick in the markets it serves. ... Vroman says the acquisition will open up new markets for Ladish that were “previously a stretch” for Cudahy-based Ladish, a forger of parts for the aerospace and industrial markets.
Allegheny Technologies Inc. of Pittsburgh has reached an agreement to purchase Ladish in a $778 million deal, or $48 per outstanding common share of Ladish stock.
ATI 48.41 -1.53. Allegheny Technologies Inc.

Municipal bond funds. Get ready to short the retracements:
NPX 12.49 +0.21. Nuveen Insured Premium Income Municipal Fund 2.
PML 10.65 +0.24. PIMCO Municipal Income Fund II.

NTAP 49.25 -3.44 (6.53%). Low earnings numbers.
RVREF 0.79 +0.05 (7.05%). RIVERSTONE RESOURCES.
UNG 5.73 +0.22 (3.99%). United States Natural Gas. Consider a buy at 5.5 for retest of recent 6 and maybe a longer term hold.

Money continues to move out of the high-fliers.
CARV 2.47 -0.36 (12.72%). Carver Bancorp Inc.
DQ 11.19 -2.20 (16.43%). Daqo New Energy Corp.
FSLR 122.83 -7.86 (6.01%). First Solar Inc.
IIIIU 3.85 -1.34 (25.82%). Information Services Group Inc.
NPD 3.96 -0.84 (17.50%). China Nepstar Chain Drugstore Ltd.
RINO 6.07 -1.08 (15.10%). RINO International Corp.