Nasdaq 2,562.11 +82.26
SP500 1,210.08 +33.28
30-yrBond 3.62% +0.09
Stock indices higher on lighter volume and closed at highs.
Was looking for SP500 1208 area to short. Fifteen minutes before close at 1209 was looking at SH as short vehicle. Decided to wait for possible short covering gap higher tomorrow morning. Looking for a big move - which direction?
Precious metals opened lower and closed above opening prices. Since Sunday night, gold volatility has been big.
GLD 173.89 -3.58
SLV 39.72 -0.69
PTM 21.35 -0.01
XLE 67.73 +1.92
XLF 13.30 +0.53
VXX 38.50 -2.57
In yesterday's Barrons weekly financial newspaper, they dared to print the truth about bailouts and monetary manipulation:
"There's no consensus at the Fed. They don't know what to do," says James Bianco, president of Bianco Research. "Government intervention at all levels has shown to be ineffective" at stimulating housing or the broader economy. Now it's time to let the markets clear and allow prices—whether for stocks or housing—to fall to a clearing level. Doing so may be painful near-term, Bianco warns, but long-term, it will lay the groundwork for stronger economic growth.
AGQ 217.00 -7.30. Long at 218.03.
BAC 8.39 +0.63 (8.12%)
SH 43.52 -1.28. ProShares Short S&P 500.
Miner buy out:
AUQ 11.35 -2.57 (18.46%). AuRico Gold Inc. Ordinary Share. Announced buy out of NXG.
NXG 4.03 +0.88 (27.94%). Northgate Minerals Corp. Intraday 52 week high.
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