Happy to let my GLD go, after this morning's drop.
Let's see if the miners follow. We've bounced 4 points off of the 290.88 HUI low.
Now, less happy to see the GLD go, as it's now a quarter above my sale price.
There is pressure on drug companies to delay TV advertising of new drugs until doctors have had time to get up to speed. So this explains why PFE won't start publicity on Exubera until six months after launch. I'm still primarily into NOV calls on NKTR. There is the summer plus the election to get through, and small caps are weak in general. So NKTR could vegetate in this area.
I bought Sept DIA puts on the opening rally and am maintaining a small short position in IWM left over from Friday's option expirations. I expect the Dow to pull back to the 10,900 area, possibly a few points below.
lord knows what caused the dollar pop, that said, good. gives me a chance to make some nice shorts even nicer. gold, i'm watching closely. if we get below 550, i'm going back in for more bullion. i am loving this.
It's a light news week, ny2. Not sure what caused the dollar pop overnight--at least, you know other than the usual...
I believe we'll have less volatility this week. I'm going to be looking for situations where companies should disappoint for next Q's earnings.
Besides NAK I reloaded into some of the more exotic ones with a bit of money. I bought my first TRE and SVM.TO. SVM or Silvercorp is the one in China that hit over $20 and got cut in two. I also did a Casey pick called Tenke. The ticker is TNK.TO and I got some Allmaden ( AAU).
So far the bottom fishing on Fording Coal is working out well. Its 52 week low was around$29 so I figured shares in the $30-31 range would work if we got a bounce. Damn divvy is over 14% and even with foreign tax its over 12%. Im thinking upside of at least 30% and then a divvy kicker on top of that.
Wild week eh?