Kicking back on today's shlock market holiday. Next week? Something juicy every day. Bennie gets the Chits on Tuesday, same dreck, no change from zero, and some language about still seeing fragile signs of recovery but that increased prices for basics is due to Chinese demand, and of course, the Klingons, who as you know, are facing a planet headed into the sun. Raised prices for oil are "troubling" but "demand based" not "real inflation", another excuse to drive the dollar to 50 against the basketcase of fiat currencies and silver and gold to the moon.
The secret is, will this miner banker get the boomerang boost it is $12 per share behind the 123% rule, or will the market vote no confidence on Randy the new CEO, await the other shoe to drop on Barnes the ex CEO, and anticipate, not the huge runup this quarter, but the next couple of quarters Bermookie changing his one note samba? If it is positively outrageous hype on Tuesday, and sure looks that way, we could seen a ten dollar pop in the POSLW that will have rats scurrying.
There's a lot of talk about shorting miners and going long silver. That's not a hedge, that's apples and gonads. A real hedge for AGQ is ZSL, 2X up vrs 2X down, altho that paired trade has time degradation against it, as both should decline just a wee bit every week as those derivatives have daily settings, and a mathematical disadvantage therein. Nonetheless, ZSL is probably headed to $5 as AGQ approaches $380, after which silly, turns rediculous.
Not to say it won't continue, our leadership has all the intelligence on this issue as the three stooges in character. But keep your stops tight, or calls sold against a part of your shares for hedging poyposes. If you don't wear protection in this market, yourdeadmeat69 times over.
Apr 25 10:00 AM New Home Sales Mar - 265K 280K 250K - Apr 26 9:00 AM Case-Shiller 20-city Feb - -3.2% -3.2% -3.06% - Apr 26 10:00 AM Consumer Confidence Apr - 65.0 64.4 63.4 - Apr 27 7:00 AM MBA Mortgage Index 04/22 - NA NA +5.3% - Apr 27 8:30 AM Durable Orders Mar - 3.0% 1.9% -0.6% -0.7% Apr 27 8:30 AM Durable Orders -ex Trans Mar - 3.5% 1.6% -0.3% - Apr 27 10:30 AM Crude Inventories 04/23 - NA NA -2.322M - Apr 27 12:30 PM FOMC Rate Decision Apr - 0.25% 0.25% 0.25% - Apr 27 2:15 PM FOMC Rate Decision Apr - NA NA 0.25% - Apr 28 8:30 AM GDP-Adv. Q1 - 0.1% 1.7% 3.1% - Apr 28 8:30 AM GDP Deflator Q1 - 2.0% 2.3% 0.4% - Apr 28 8:30 AM Initial Claims 04/23 - 390K 390K 403K - Apr 28 8:30 AM Continuing Claims 04/16 - 3700K 3700K 3695K - Apr 28 10:00 AM Pending Home Sales Mar - 0.0% 1.5% 2.1% - Apr 29 8:30 AM Personal Income Mar - 0.4% 0.4% 0.3% - Apr 29 8:30 AM Personal Spending Mar - 0.6% 0.5% 0.7% - Apr 29 8:30 AM PCE Prices - Core Mar - 0.1% 0.1% 0.2% - Apr 29 8:30 AM Employment Cost Index Q1 - 0.5% 0.5% 0.4% - Apr 29 9:45 AM Chicago PMI Apr - 62.0 67.1 70.6 - Apr 29 9:55 AM Michigan Sentiment - Final