Yeah I'm no chart wizard but it looks like GDX has some catching up to do if spot stays up here. We were higher on monday with spot under 1200
"The Federal Reserve may want to extend its bond-buying program beyond October to keep its policy options open given falling U.S. inflation expectations, Federal Reserve Bank of St. Louis President James Bullard said Thursday."
Yet the market spiked higher on the Bullard comments. It seems many are clinging to hope that QE will not end.
The market knew QE1 and QE2 were ending also, it didn't prevent drops.
complacency is still very high, but yes it seems everyone expects another move up, which is why we will probably see the 200 DMA this week.
Revenue multiples per share are at all time highs, more than 2000 and 2007. They are not growing fast enough to avoid adjustment.
yep looks like the butpownding resumes tomorrow for longs. Hopefully they can get out over 70 in the AM, may not get to.
yeah shorts from 98 feeling the squeeze alright, same for shorts at 88, 78 . . .
I started the day neutral but added Nov Put spread today. then added smaller Oct call spread. I can lose the whole call spread if we roll over from here, I have time for the puts to work. If we shoot back to mid 90's by next friday the call spread will pay for the puts.
yep nmble is the trick here. I'm all out but surprised it didn't close higher with the NAS up 2%. I'll probably miss a huge gap down overnight.