Nasdaq 3,267.52 +11.00
SP500 1,569.19 +6.34
30-yrBond 3.1040% +0.0120
GLD 154.47 -0.89
SLV 27.43 -0.30
PTM 17.88 -0.13
XLE 79.31 -0.23
XLF 18.21 +0.05
VXX 20.25 -0.09
Silver continues to lag gold. Copper also acting poorly. Gold going to 1582, then maybe look at it.
After nearly two weeks of being closed, Cyprus banks re-opened with depositor haircuts over the insured limit. Perception the ECB did not want to save Russian oligarch funds. At least one bank branch in London remained open and allowed withdraws. Watch Malta and Lithuania for other oligarch deposits. This should have scared Spain, Portugal, Greece, and Italy to get their bank balance sheets in order.
DSLV 31.21 +0.97. Sold at 31.14 for .90 per share gain. Silver down 1% overnight. Day range 30.46 - 31.60.
GOLD 85.98 -0.35. Miner with potential currency play.
Larry Pesavento's trading rules
Never add to losing position.When in doubt, get out.
Plan trading and stick to the plan.
Take out equity for rainy day periods.
Never close trade without a reason.
Stops are placed for protection, so use them.
Only true fact in trading is fear and greed.
Never allow substantial profit to become a loss.
Distribute risk equally over several markets.
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