Somehow, we'll survive
9:11 am (Hawaii). One of these days, my sleep cycle will adjust and I'll sleep from 9 pm to 4 am, getting a reasonable amount of sleep before the opening bell. Until then, I'm not awake until midway through the session. Not that I'm missing a lot.
Less than two hours until the closing bell and stocks are a mixed bag. Oil and silver have cooled off significantly this week. Oil futures keep getting shot down below 105 despite violence and turmoil in Libya and neighboring states. The stabilization, however precarious, of crude oil prices has allowed some equities to move forward.
GMCR 43.84 (+7.2%), CSTR 43.27 (+2.6%), NGD 10.59 (+2.4%), LULU 76.45 (+1.6%), AMZN 169.47 (+1.6%)
Smells like retailers are getting some bang for their springtime buck, but they're at the mercy of Middle East madness.
TVIX is also up there, to no surprise, with a 3% gain to 44.72. NGD is up 2.2% (10.57) even though gold is basically flat as a whole.
42% of my watch list is in the green; 56% red.
SLV is up fractionally, but SLW is down again, losing 1.4% so far (44.04). Silver futures have bobbed and weaved at the 36 level today. The mad rush to get in has reversed this week. Was it just a mania? Or is this a short pause on the way to 50? I'm not risking my hard-earned, inflation-ridden dollars to find out.
IPI (-3.7%), EXK (-3.2%), PAAS (-2.9%), X (-2.7%) and FCX (-2.4%) are the big losers on my watch list so far. That's an ag, two silver plays, a steel and a copper. Whether we believe the top is in or not for silver is irrelevant. It's getting sandbagged on every thrust toward a new high and the puppetmasters keep tying new knots on those thinning strings.
AAPL is hanging on at 352.42, off its LOD (350.60). Can a lousy market knock AAPL off its feet as the iPad 2 hits stores Friday afternoon?
Still 100% cash and watching with trusty binoculars from the rafters.
Hump day reading
Cafe Americain: Harvey Organ: targets $2,000 gold and $125 silver (Mar 9 2011)
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