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January 14th, 2010 at 11:14 am
I wonder if the G12 wants to tank the market today to show the "reaction" to Obama’s Bank Tax?
GSM/Jrom – I’m in SMN, just doubled down on my Apr $10s so not bullish on GSM at all.
Shanghai/Bord – That exchange is a joke – can go up and down 1 or 2% in minutes, not something you want to hang your hat on. They do have some Hang Seng stocks in the Shanghai though…
SRZ/Drum – I like them long-term and you may as well roll as the price you get selling against the stock stinks right now.
What are "real" valuations Gel?
Ags getting hit hard today. Copper flew up to $3.44 and now back below $3.41, a total joke commodity. Gold is at $1,132 and Silver testing $18.50 so bad for all metals if they can’t hold it (and copper $3.40, of course), Nat gas hanging tough at $5.55 and oil bouncing off $79 at the moment.
OIH was up and down already this moring, our short calls looking good again. XLF at $15.12 so no major crisis until they blow $15.
N making 52-week highs (funny metal rotation). BIDU up another 2.5%, SRS up 1.25%, VNO $70.36, OIH about to blow $130 – also worth watching.
UNG/RMM – I’d sell full cover of $10s.
Thanks Pirate – or Arrrrrrh!