Monday, July 25, 2011

Steady, shiny and super

12:07 pm (Hawaii) As for those of us not ralphing due to large exposure to NFLX ...

I saw modest gains in my small positions in XG (+1.5% to 14.26) and DGP (+1.3% to 53.60). GSVC dropped 3.6% (to 16.57) and I'll look to add another tiny sliver if it falls below 16. The nature of dangerous, low-float stocks with robust potential can be spooky unless handled with the right level of exposure.

I slept through much of it, noticing AAPL's steady rise through a flat market. (All three indices were down.) AAPL touched 400 briefly and is at 399.20 afterhours. BIDU up 9.2% (+$14.25 to 168.18) today, up from 157 at the closing bell on huge earnings numbers. Somewhere, someone has a portfolio that is based exclusively on major growth numbers out of China. Apple. Baidu. China Mobile. Sina. That investor is making moola.

GOOG will never invade the Middle Kingdom. Big Brother will not allow it. The Baidu story has always been compelling, with its roots in US technology. But I wonder what Chinese company will copy Lululemon and explode through the market. Or is yoga frowned upon in China?

My Regular watch list is 42% green, 57% red. BIDU at the top, Orbitz (OWW) up 8% to 3.38. (I bought this at 3.45, sold at 2.35 months ago.) TVIX, VXX, TSO, WNR all up. TZA, too. FAZ finished up 2.4% to 44.86 after dropping from 45+. I don't have the will to buy FAZ here, even though I said I would like it below 49. Politicians are already dictating the price of precious metals. I guess I don't want to own another entity at their mercy.

Metals list is 42% green, 57% red. A rare occasion when both lists have the same numbers. No big gainers; SGOL (+3.1%), FSG (+2.6%), AGQ (+1.7%), DUST (+1.6%), XG (+1.5%). The bottom of the list: REE (-4%), PAAS (-3.6%), GPL (-2.8%), AVL (-2%).

Watched AGQ as often as I could between my zzz's. It was at 223+ before coming down to the 216-220 level for most of the day. The calm in the silver and gold markets after their initial gains early on was unusual. Not quite eerie, though. I wonder what Brother Turd Ferguson is surmising at this hour.

So, just 25 hours since I stepped forward and resumed my gradual buildup of PMs (I being the Falklands in terms of power and financial artillery), it's a slight win so far. My interest in silver is for the long term, but it never hurts to be ahead. I added more an hour before yesterday's Asia market resumed business (11 am Hawaii time) with spot at 40.17. It hit 41 today before pulling back to 40.39. I still see PMs rising at least until tomorrow, then pulling back when Boehner and Obama come to a compromise some time between Wednesday and next Monday (Aug 1).

Then, on a selloff in PMs, another buying opportunity will arise, possibly far below today's levels. If not, that would be fine, too. I'm not trying to get the exact bottom. That's too much to ask of any human being. It felt strange to buy physical in the 40s yesterday, but it was the right move for me.

As for Spot Gold, it hit 1622 early before declining to 1614, still at all-time high levels. Even Dennis Gartman admitted he stepped back into gold today after talking it down recently as an overcrowded trade. We're two sessions in since China's newest silver futures market opened shop. I wonder how much difference it is (or isn't) making.


No comments: