5:49 am (Hawaii) In DGP before the end of after hours trading yesterday at 63.63. Sold at 64.62 this morning. Just got up a few minutes ago, missed the mini-run to 65+, but a little profit is fine with me before the day ends. Just not willing to be in a position over the weekend, especially PMs, with a Brit holiday on Monday and the threat of more margin requirement hikes in gold.
I'd rather wait it out, let the margin hikes hit spot price (even if there's no hike, the effect could be the same) and get a far better price.
Brother Turd Ferguson has been spot on of late with his outlook in PMs. A master, really. He could be wrong from time to time, but his perspective on the day-to-day is captivating. Indices are up modestly (0.8% to 1.6%). No reason to expect QE3 from the Helicopter later today but who knows how that turns out. Heading back to bed for now.
GSVC is above 17 now on yesterday's news of investment in Twitter. It's nearing that 19+ top. FAZ is down more than 1% though most banks on my Debt Spiral list are in red.
Update 6:06 am Okay I totally missed Bernanke's speech. Dow was -220 and I didn't know it. It was a 1-minute chart of AAPL that got my attention. (My TV is off and is staying off for now.) AAPL shot from 372 to 381 at roughly 10:15 am Eastern. It didn't make a difference for me. I still wanted out of DGP at some point today. But it explains how DGP ran to 65.50 or so.
With no pronouncements or hints of a formalized QE3 or hidden facsimile, it's fine to be in cash.
Update 8:34 am DGP ran to 66.50 or so. Nice run by gold (1806) and silver. Both are running higher with the indices, which I didn't expect. That won't last forever.