Nasdaq 2,760.22 -1.30
SP500 1,314.52 +0.11
10-YrBond 3.49% +0.02
Dollar rallied overnight and sold off in the morning. On watch for a dollar rebound, though it is very sick. Below 74.17 and the bottom drops out of the dollar. BRIC countries are agreeing to bypass the dollar in their trading, thus reducing dollar demand.
GLD 143.81 +1.91
SLV 41.07 +1.50
PTM 21.07 +0.26
XLE 76.56 +0.52
XLF 16.13 -0.15
VXX 28.19 -0.24
While the broad universe of trading vehicles is down, silver continues to chug higher. Corporate shill Barron's last weekend said "silver will tarnish". The powers that be had been able to naked short and talk down silver. They are losing control of this inflation indicator. Anna Raff wrote, "Silver prices broke through $40 an ounce on Friday, but the long rally may be coming to an end." Instead of asking if silver will tarnish, Anna should ask how far silver will rocket.
Bolivia is nationalizing mines. Bolivia is a big silver producer. A couple miners with Bolivian properties:
CDE 31.08 -2.68 (7.94%). Big volume.
PAAS 37.35 -3.74 (9.09%) . Big volume.
TKRFF 0.67 +0.02. Tinka Resources Ltd. Started small position of this speculative low-volume exploration miner. This is mad money, that is not a safe investment.
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