Gold Spiking Again

At $1,850 gold is up another 2.5% this morning. This looks like the speculation in oil we'd seen in 2008. Don't get suckered.

Markets are gonna' start off rough again today so I'll try to unload the RSWs at better than 44 since they didn't go yesterday. Hanging on to FAZ though. US banks don't look any better and FAZ may turn out to be a score.

Markets Getting Crushed

Geez, I'm not doing too bad today:

DOW 10,960 -450

S&P 1,145 -49

NAZ 2,398 -113

Reuters: US stocks tumbled after data showed factory activity in the US Mid-Atlantic region unexpectedly fell to the lowest level since March 2009.

There also concerns that the European debt crisis might spread to the US banking sector. This is why I'm in FAZ. Gonna' try to unload RSW @ $43.45

Producer Prices Surge in July

U.S. core producer prices rose at their fastest pace in six months in July, pushed up by higher tobacco and light truck costs...

Tobacco and light truck costs? I doubt that there is enough here to worry about inflation.

DOW 11,405.93

S&P 1,192.76

NAZ 2,523.45

Markets Rolling Over?

Holding FAZ and adding a little RSW @ $40

Markets Up Today

• DOW 10,979 +259
• S&P 1,151 +30
• NAZ 2,451 +70

I'm looking for the markets to weaken through the afternoon. Probably worth grabbing a little more FAZ @ $65.

3:50 PM UPDATE: oops. DOW +441, S&P +61, NAZ +127

CSCO $15.25 +$1.52

Thinking of a little Cisco this morning but there's really no rush. Stock will pop up about 11% on good results but there's no reason to buy until the stock breaks through $16.50.

RSU

Out of RSU @ $33.38

Watching Financials...again...again.

US financial crisis looming again? You know these positions have not done anything in a year and a half?! In fact they're down for the most part. Snacking on another position in FAZ right here @ $70.

WFR $5.93

Watching MEMC Electronic Materials. I don't ordinarily look for bottom-feeders but this stock has been on the radar for 2 years while it's slid about 65%. Revenues are up Y/Y but margins and cash flow have come under pressure. Decent cash value (~$600 MM) but can it support the neg. cash flows the company has been runnin'? Watching closely.

Market Turmoil

S&P support @ 1140, then 1120.

3 PM UPDATE: gonna snatch a little RSU at $33