Thursday, March 7, 2013

Still Going Higher, Can Gold Miners Shine?


I've got a position in GDX, trying to play the bounce here.
I also picked up AG at 15.00 at market opened, and managed to get a 6% intraday spike higher.


Meanwhile my shorts in AMZN, GPOR, LVS are all bleeding.

Icahn is getting busy again and he makes it as the number 1 trader/fund manager on the Forbes list.  We see Ackman is also on the list, but Cahn has 20bn to Ackman's 1.2bn - a bazooka and a pellet shooter go into a bar...

I'm looking to get into JMBA, trying to get a better price.  After opening down 5% it actually closes 1.4% higher at 2.9.  I will definitely be buying this break at 2.9 or a retracement back to 2.30 range.

No disappointments in Aus growth last quarter.  

Dow Jones Industrial Average: Then 14164.5; Now 14,304
GDP Growth: Then +2.5%; Now +1.6%
Unemployed: Then 6.7 million; Now 13.2 million
Food Stamp users: Then 26.9 million; Now 47.69 million
Fed’s Balance Sheet: Then $0.89 trillion; Now $3.01 trillion
Debt as a Percentage of GDP: Then ~38%; Now 74.2%
Total US Debt: Then $9.008 trillion; Now $16.43 trillion
Consumer Confidence: Then 99.5; Now 69.6
VIX: Then 17.5%; Now 14%
10 Year Treasury Yield: Then 4.64%; Now 1.89%
Gold: Then $748; Now $1583
NYSE Average daily volume: Then 1.3 billion shares; Now 545 million shares