Dow 10,836.15 -52.68
Nasdaq 2,398.76 -16.48
SP500 1,167.72 -6.45
10-YrBond 3.83% +1.49
Dollar was up over a point, and US indices and metals were down. More reports of European troubles with Portugal's debt downgraded. Consider if Portugal is like a State of the EU, what happens when debt of States of the USA are downgraded?
Huge down move in USA long-term debt. Interest rates higher will hurt housing market because loans will be less affordable.
If gold holds 1070, then it has set up a nice base to move higher. A test of 1025 is possible.
GLD 106.25 -2.07
SLV 16.30 -0.42
PTM 18.84 -0.32
XLE 57.05 -0.30
XLF 15.91 +0.01
VXX 22.08 +0.57
MVG 7.76 +0.11 Mag Silver Corp. 52 week high. Look to buy pullback.
TLT 89.27 -1.66. iShares Barclays 20+ Year Treas Bond. Down on big volume. Pushing into lows from last May.
Wednesday, March 24, 2010
Tuesday, March 23, 2010
20100323 PM
Dow 10,888.83 +102.94
Nasdaq 2,415.24 +19.84
SP500 +1,174.17 +8.36
30-yrBond 4.60% +0.29
GLD 108.26 +0.51
SLV 16.71 +0.11
PTM 19.23 +0.21
XLE 57.25 +0.12
XLF 15.88 +0.11
VXX 21.31 -0.62
FXP 8.22 -0.10
ANO 1.44 +0.13
EXK 3.34 +0.10
NGD 4.50 -0.02
SBUX 25.41 +0.17. Bought at 25.13. Earnings Thursday.
Nasdaq 2,415.24 +19.84
SP500 +1,174.17 +8.36
30-yrBond 4.60% +0.29
GLD 108.26 +0.51
SLV 16.71 +0.11
PTM 19.23 +0.21
XLE 57.25 +0.12
XLF 15.88 +0.11
VXX 21.31 -0.62
FXP 8.22 -0.10
ANO 1.44 +0.13
EXK 3.34 +0.10
NGD 4.50 -0.02
SBUX 25.41 +0.17. Bought at 25.13. Earnings Thursday.
Monday, March 22, 2010
20090322 PM, Health Insurance Stocks Pop
DJIA 10,785.89 +43.91
NASDAQ 2,395.40 +20.99
SP500 1,165.81 +5.91
Federal Congress passed bill to move toward more socialized medicine. Health care stocks surged higher. The bill will take several years to implement (2014), and at some time before implementation I expect health care stock prices to drop significantly when the market realizes that healthy people will simply stop paying for health insurance and take the small penalty. Healthy people will save paying the huge premium increases, and will simply buy insurance if they get sick because pre-existing conditions will not be denied.
Indices opened down with dollar higher. Dollar sold off and indices went up. If Euro holds here, our indices will go higher.
Gold close below 1070 is bearish.
RAX 19.00 -0.40
SBUX 25.24 +0.27. Earnings Thursday.
WYNN 76.54 +4.79 (6.68%). Intraday 52 week high.
HMA 9.05 +0.92 (11.32%). Health Management Associates Inc.
THC 6.27 +0.52 (9.04%). Tenet Healthcare Corp.
UHS 36.59 +2.13 (6.18%). Universal Health Services Inc.
NASDAQ 2,395.40 +20.99
SP500 1,165.81 +5.91
Federal Congress passed bill to move toward more socialized medicine. Health care stocks surged higher. The bill will take several years to implement (2014), and at some time before implementation I expect health care stock prices to drop significantly when the market realizes that healthy people will simply stop paying for health insurance and take the small penalty. Healthy people will save paying the huge premium increases, and will simply buy insurance if they get sick because pre-existing conditions will not be denied.
Indices opened down with dollar higher. Dollar sold off and indices went up. If Euro holds here, our indices will go higher.
Gold close below 1070 is bearish.
RAX 19.00 -0.40
SBUX 25.24 +0.27. Earnings Thursday.
WYNN 76.54 +4.79 (6.68%). Intraday 52 week high.
HMA 9.05 +0.92 (11.32%). Health Management Associates Inc.
THC 6.27 +0.52 (9.04%). Tenet Healthcare Corp.
UHS 36.59 +2.13 (6.18%). Universal Health Services Inc.
20090322 1135, SBUX
DJIA 10,767.38 +25.40
NASDAQ 2,386.39 +11.98
SP500 1,162.44 +2.54
Yesterday, Sunday evening, Congress passed a contentious health insurance bill. Dollar opened higher and markets and metals sold off. The dollar has reversed course and indices are higher with metals regaining some of the lost ground.
GLD 107.46 -0.82
SLV 16.468 -0.182
PTM 18.95 -0.19
XLE 56.9801 -0.2999
XLF 15.72 +0.03
VXX 22.149 -0.193
SBUX 25.18 +0.21. Day range 24.35 - 25.20. Earnings Thursday. 52 week high of 25.66 was set last week.
NASDAQ 2,386.39 +11.98
SP500 1,162.44 +2.54
Yesterday, Sunday evening, Congress passed a contentious health insurance bill. Dollar opened higher and markets and metals sold off. The dollar has reversed course and indices are higher with metals regaining some of the lost ground.
GLD 107.46 -0.82
SLV 16.468 -0.182
PTM 18.95 -0.19
XLE 56.9801 -0.2999
XLF 15.72 +0.03
VXX 22.149 -0.193
SBUX 25.18 +0.21. Day range 24.35 - 25.20. Earnings Thursday. 52 week high of 25.66 was set last week.
Sunday, March 21, 2010
20100320 Weekend, SQIFF
Dow 10,741.98 -37.19
Nasdaq 2,374.41 -16.87
SP500 1,159.90 -5.92
10-YrBond 3.69% +0.15
Dollar higher. Metals lower. Indices sold off for first couple hours, sold off sharply at 3PM, then sellers entered at 3:30PM.
GLD 108.37 -1.97
SLV 16.65 -0.43
PTM 19.13 -0.37
XLE 57.30 -0.67
XLF 15.69 -0.10
VXX 22.22 +0.14
FXP 8.28 +0.11
NGD 4.49 -0.10. Sold partial long position at 4.65 early in week for .52 per share gain.
CNSL 18.65 -0.21. Intraday 52 week high.
SQIFF 0.517 -0.012. Watch for buy after pullback.
RBY 4.23 -0.04
ANO 1.34 -0.02
EXK 3.22 -0.00
SLW 15.39 -0.44
TRE 4.15 +0.06
Nasdaq 2,374.41 -16.87
SP500 1,159.90 -5.92
10-YrBond 3.69% +0.15
Dollar higher. Metals lower. Indices sold off for first couple hours, sold off sharply at 3PM, then sellers entered at 3:30PM.
GLD 108.37 -1.97
SLV 16.65 -0.43
PTM 19.13 -0.37
XLE 57.30 -0.67
XLF 15.69 -0.10
VXX 22.22 +0.14
FXP 8.28 +0.11
NGD 4.49 -0.10. Sold partial long position at 4.65 early in week for .52 per share gain.
CNSL 18.65 -0.21. Intraday 52 week high.
SQIFF 0.517 -0.012. Watch for buy after pullback.
RBY 4.23 -0.04
ANO 1.34 -0.02
EXK 3.22 -0.00
SLW 15.39 -0.44
TRE 4.15 +0.06
Wednesday, March 17, 2010
20090317 PM
Dow 10,733.67 +47.69
Nasdaq 2,389.09 +11.08
SP500 1,166.21 +6.75. Expect strength to continue unless this closes below 1160.
30-yrBond 4.57% -0.21
Metals marking time. Gold is OK unless it gets below 1000.
Gas closing above 83 will bring higher prices.
GLD 109.59 -0.81
SLV 17.08 +0.03
PTM 19.46 -0.06
XLE 59.06 +0.64
XLF 15.92 +0.19
VXX 22.39 -0.78
Nasdaq 2,389.09 +11.08
SP500 1,166.21 +6.75. Expect strength to continue unless this closes below 1160.
30-yrBond 4.57% -0.21
Metals marking time. Gold is OK unless it gets below 1000.
Gas closing above 83 will bring higher prices.
GLD 109.59 -0.81
SLV 17.08 +0.03
PTM 19.46 -0.06
XLE 59.06 +0.64
XLF 15.92 +0.19
VXX 22.39 -0.78
Sunday, March 14, 2010
20090312 Weekend, Dollar Liquidity Growth
Dow 10,624.69 +12.85
Nasdaq 2,367.66 -0.80
SP500 1,149.99 -0.25
30-yrBond 4.63% -0.26
GLD 107.95 -0.65
SLV 16.76 -0.05
PTM 19.209 +0.019
XLE 58.50 +0.03
XLF 15.54 -0.06
VXX 23.85 -0.23
The Prudent Speculation blog covered an interesting article on money growth/contraction and asset price growth/contraction.
Nasdaq 2,367.66 -0.80
SP500 1,149.99 -0.25
30-yrBond 4.63% -0.26
GLD 107.95 -0.65
SLV 16.76 -0.05
PTM 19.209 +0.019
XLE 58.50 +0.03
XLF 15.54 -0.06
VXX 23.85 -0.23
The Prudent Speculation blog covered an interesting article on money growth/contraction and asset price growth/contraction.
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