4:06 am (Hawaii) No matter what "they" do, they can't save this market while it is still filled with toxins. Buffet has purchased, what, five or six billion dollars worth of BAC preferred shares. This prolongs the inevitable, but for now, that has most financials in green this morning. Yet, the indices have drifted from break even to negative. I have no hate for Buffett. In fact, I'll be thanking him maybe. FAZ is now down to 56+ and once it hits 55, it'll be at support. 55 is where FAZ drifts to before some Euro bank craps out a load of bad news once every two or three weeks.
Not planning to automatically buy FAZ at 55, but now that price is on the radar thanks to Buffett, I'm keeping a close eye on it.
Gold and silver are down again, and I don't even care what the spot price is. I'm all cash, saving in physical and not selling that. DZZ was at 4.90 or so after hours yesterday, was at 4.95 in premarket today, and has gone as high as 5.19 already. Now at 5.04.
DGP (60.87) and AGQ (206.09) are at attractive levels, but that's not enough for me to scale in yet. I'm content to wait through tomorrow's Jackson Hole bizness. The lack of stress from being untethered to this space alien machine market is refreshing.
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