Wednesday, November 11, 2009

Into the close

Looks like the best action today was on the 15 minute.



goldenheart said...

are we still long then?

Anonymous said...

note the chart discrepancy in performance:


either the rumor about JPM being short 1/3 annual world silver production is true and they are against the wall pushing back, and/or there is some serious disconfirmation of gold and/or DJIA rally.

Notice also USO lagging much like SLV. (Though here there is some problem with USO following WTI and Saudis exiting WTI recently.)

We are likely set for an explosive up move in silver. Or, these are subtle signs that a turn out of the blue is coming soon for DJIA.

Tomorrow is key with the HP buying 3Com news. If the Naz fails this, then that might say a lot.

Buying silver miners might be a way to hedge one's TZA position, etc.

Lastly, in the Japanese Carry Trade, Yen was borrowed and invested in US equities. This time dollars being borrowed and leveraged into US equities. (cf. Denninger's writings on this today & yest.). ... This non-carry Carry Trade might make for rather peculiar outcomes should the US SMkt generate any downward winds. Not to mention all the leverage a'hand, which could exacerbate the situ.

gh said...

if 3m is true then selling the news would be the thing to do - but EW doesn't work on fundamentals - right - vietnam ok'd buying gold today to help STABILIZE their currency which was going in the toydee..

Anonymous said...

what unhedged silver miner's you like?

Anonymous said...

SLW (hybrid; not a direct miner)

EXK, AXU,, MGN (explorer stage)

(AXU has sold 25% of one of its mine's production to SLW, but this has afforded them a lot of cash for development. In that sense it is a wee hedged.)

also: would spec some NJMC and just sit on it. If they get some clearance to work their properties then might get interesting. (a little NJMC to go with the NNVC)

most of the above have very few shares outstanding. Most have cash and little or no debt--which is a consideration with tight credit environment and higher interest rates ahead.

Anonymous said...

s/b FVI.v

Anonymous said...

Question :
What made the market blast up on monday ?? When all indicators were pointing down.

Allan said...

The market doesn't follow "the indicators", the indicators follow the market. For most any indicator, more information and insight is gleaned from looking at market.

Anonymous said...


What is your take on NJMC?

Thanks, Liam