Nasdaq 2,652.87 -10.11
SP500 1,257.64 -0.24
On the markets, almost everyone is a bull. New highs / new lows is not showing the new highs. Look for continued index volatility and consider going long VXX volatility. January 4 is a planet turn date so consider getting short on Monday.
If metals continue higher in 2011, exploration miners and junior miners will go much higher.
Oil made wild move higher back above 90 to close at 91.38. If oil spends more time above $90/barrel, it will push significant cost pressure into transportation and food. Energy continuity and energy affordability will be an underlying theme in 2011, even if it is ignored by the media.
GLD 138.72 +1.69
SLV 30.18 +0.42. 32 year high. A close over 31 the trigger to get long (with leverage) to ride an immediate explosive move higher. Many expectations, that seem reasonable, of $40/oz this year. Commentary from gotgoldreport.com:
In general, when the GSR is trending lower, that is a more bullish than bearish signal by itself. This is the first time, however, since the late 1970s that the fall in the GSR is in connection with either a perceived (at minimum) or an actual (very likely) condition of investor demand being greater than the existing supply of commercial silver bars to satisfy that exploding demand.
In other words, this fall in the gold/silver ratio is possibly different than all the others that occurred in the 1990s and in the last decade. The major difference is that in all the previous declines in the GSR since the 1980 silver collapse there was ample commercial bar silver available to satisfy demand. There is some legitimate question as to whether there is enough supply this time.
XLE 68.25 +0.10
XLF 15.95 +0.02
VXX 37.61 -0.31. 52 week range 36.31 - 144.88.
ANO 1.63 +0.03. 52 week range 0.82 - 1.78.
GBG 2.96 +0.04. 52 week range 1.55 - 3.04.
MDW 0.84 +0.05. 52 week range 0.38 - 0.95.
CNSNF 0.25 -0.01. CONSTANTINE METAL. 52 week range 0.02 - 0.27. Speculative, high-risk long.
MEA 5.88 +0.23. Metalico Inc. 52 week range 3.07 - 7.09.
SLW 39.04 +1.17 3.09%. 52 week range 13.04 - 42.34.
TLR 1.19 +0.09. Timberline Resources Corp. 52 week range 0.73 - 1.47.
TRE 7.30 +0.02 0.27%. 52 week range 3.35 - 7.32.
SGG 93.55 +4.56. iPath DJ-UBS Sugar TR Sub-Idx ETN. 52 week range 37.18 - 101.30. Was down 10% yesterday with volume. Today made some recovery today back to near all-time high.
JJC 59.10 +0.82. iPath DJ-UBS Copper TR Sub-Idx ETN. 52 week range 36.60 - 59.30.
MBI 11.99 +0.12. MBIA Inc. 52 week range 4.05 - 12.62. Higher with volume. Good looking financial.
NENE 1.87 +0.08. New Energy Technologies, Inc. 52 week range 0.35 - 3.29. May be building cause to retest recent high or maybe test 2.50s.
Bob Marley, Three Little Birds
Elton John, Levon
Levon wears his war wound like a crown
He calls his child Jesus
'Cause he likes the name
And he sends him to the finest school in town
Levon, Levon likes his money
He makes a lot they say
Spends his days counting
In a garage by the motorway
He was born a pauper to a pawn on a Christmas day
When the New York Times said, "God is dead
And the war's begun, Alvin Tostig has a son today"
And he shall be Levon
And he shall be a good man
And he shall be Levon
In tradition with the family plan
And he shall be Levon
And he shall be a good man
He shall be Levon
Levon sells cartoon balloons in town
His family business thrives
Jesus blows up balloons all day
Sits on the porch swing watching them fly
And Jesus, he wants to go to Venus
Leaving Levon far behind
Take a balloon and go sailing
While Levon, Levon slowly dies
He was born a pauper to a pawn on a Christmas day
When the New York Times said, "God is dead
And the war's begun, Alvin Tostig has a son today"
And he shall be Levon
And he shall be a good man
And he shall be Levon
In tradition with the family plan
And he shall be Levon
And he shall be a good man
He shall be Levon
And he shall be Levon
And he shall be a good man
And he shall be Levon
In tradition with the family plan
And he shall be Levon
And he shall be a good man
He shall be Levon
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