20110908 PM

Dow 11,295.81 -119.05
Nasdaq 2,529.14 -19.80
SP500 1,185.90 -12.72
30-yrBond 3.31% -0.0440

Dollar higher. Precious metals higher. Stock indices lower.

GLD 181.81 +4.73
SLV 41.22 +0.69
PTM 21.82 +0.46
XLE 67.11 -0.79
XLF 12.63 -0.28
VXX 41.86 +0.67

Is this a slight pullback in a trading rally? Setting up for a long term rally like QE1 and QE2? Will stimulus come from a federal government make-work program instead of a bailout of the bankers by the Federal Reserve? If money will be spent, will it be spent for the people or for the bankers?

In what many saw as manipulation early Tuesday morning, the price of gold fell after the Swiss devalued their currency. Typically downward gold price manipulation will set of stops that cause a further selling cascade. This price drop was quickly recovered. If the manipulators are losing their impact, will they turn to other tools such as the CME raising margin requirements?

AGQ 232.80 +7.41
AUY 17.39 +0.72. Yamana Gold, Inc. Hesitated too long during day and finally bought near close at 17.42. Price indicates something big is happening. Going for 2008 high of 19.65.
EWG 18.81 -0.65
REGN 72.19 +0.92
ZAGG 14.57 -0.45

Miners:
AU 46.69 +0.43. AngloGold Ashanti Ltd.
KGC 18.18 +0.40. Kinross Gold Corporation. 52 week range 13.84 - 19.90.
XRA 5.48 +0.13. Exeter Resource Corporation