Bill

I just thought I should point out that the $700 for April gold is the April 2008 contract. The April 2007 contract hit $667 yesterday.
Nevertheless, still a nice uptrend...

Speaking of mindless analysts, BoA upgraded Cara 100 Hovnanian (HOV) yesterday to a buy. The stock shot up 6% in response.

I don't like HOV right now. And I like the BAC analyst, author of the infamous "foot traffic" meme, even less.

I could use some help from anyone versed in digging up insider transactions (Sells) on Sedi. Here is a pdf i generated this AM on Sedi.ca for KRY. I am curious to see any movement and it seems the holdings of several have changed since last time i checked.

Some things that jump out, Todd B only has 21,026 common shares left, but still seems to have all his options waiting. Fung still has a large option position but his common shares are now only 19,500. Marshall's seems to not have changed since last i checked.

Anyone know if there has been insider selling as of late? Here is the pdf report from sedi. Anyone's help is appreciated.
http://tinyurl.com/2zaqyn

payrolls came in 111k, so no sellers to be found as 'interest rate fears subside'...dax futures +33 as europe relentless on new 6 yr highs...

highest premkt volume: AMZN ERIC GLD BHP...upgrades: MSFT INTC CSCO MUR...

daily charts NDX SMH on cusp of 14-3 slow stochastic and cci buy signals today, a strong weekly close should do it

spot gold holding 650 round number will be key, we've seen many large drops in precious metals on fridays, and we knew they were overbought

zinc copper, base metals also weak before p.m.'s got weak on dollar bounce

Nothing but blue skies ahead, it seems. This is beginning to feel like a replay of Oct/Nov.

Why are gold and silver (and hence the miners) taking such a beating?

well, obviously the p.m.'s were overbought, nothing goes straight up forever, then the dollar took a big pop up after the econ data

for a reason it's non stop down, market participants love to butcher a fund in trouble, and this one is a 'long only metals fund', so they will try to stop out all it's positions

SAN FRANCISCO (MarketWatch) -- Red Kite Management, a $1 billion metals trading hedge fund, wants to extend the notice period for investor redemptions after losses of as much as 15% in January, according to documents obtained by MarketWatch and people familiar with the firm's performance
http://www.marketwatch.com/news/story/red-kite-extend-redemption-notice/story.aspx?guid={24F9FEE5-9AD5-49E8-9FC6-1D14852C7D19}

One encouraging sign on this pull back in PMs is that volume seems very subdued across the board. I like when pull backs are on weak volume, advances on heavier.
Always surprises me that these stocks can make big moves on such small volume.

One encouraging sign on this pull back in PMs is that volume seems very subdued across the board. I like it when pull backs are on weak volume, advances on heavier.
Always surprises me that these stocks can make big moves on such small volume.

One encouraging sign on this pull back in PMs is that volume seems very subdued across the board. I like it when pull backs are on weak volume and advances on heavier.
Always surprises me that these stocks can make big moves on such small volume.

Sorry for the stutter.

Rigdon, you're not drinking are you? ; >

Here's an interesting read and some solid thinking from Doug Kass at The Street.com

http://www.thestreet.com/_tsccom/markets/activetraderupdate/10336641.html

HOV and BHS are on fire today yet ABX indices for BBB-/BBB/A MBS continue falling from a cliff. Short opportunity maybe ?

Not yet, Leisa, but chilling some NZ SB down and looking foward to the close. Nice to see the PM's coming back a bit this afternoon.
Now let me see if I can click just once.

Upgrade from HB analyst shill and high short interest is driving squeeze in HOV and other builders. Plus media spinmeisters claiming strong economy will lead to rebound in housing.

I'm not buying any of it. However, these stocks are just too easily manipulated and be careful if you go short.

All-

Don't go into the woodshed with Leisa! The hangover still hasn't gone away. And I never could stand Marlboros. A person really can have too much fun.

I have returned from the Yahoo message boards and my Prozac prescription has now run out. To celebrate my return, gold has taken a beating today.

A special thanks to Bill for a) his personal vote of confidence and support, and b) running gold up while I was gone so that I could make some money.

As Bill knows, my life is about to be turned upside down. I wish I were joining him on sunnier shores but it looks like we will be passing each other in the air. Posting by me will be sporadic until calm returns.

Good luck and good trading all.

http://www.rgemonitor.com/blog/roubini/176117

Given our discussion yesterday prompted by Noodle, I thought that folks might find the above interesting from Roubini.

MarkM...welcome back.

Rigdon--I had the most delightful rose (don't shudder). It was a 100% Grenache--Spanish (it's too nasty outside for me to grope for the bottle). Last night a French one: Routas, Rouviere 2005. 40% Grenache, 30% Syrah, #0% Cinsault. Very nice, but I think I like the Spanish Grenache rose better.

NYUGrad - here's a link re: insider trades. It's not as exhaustive as sedi.ca but does capture cdn. listed situations.
http://www.canadianinsider.com/coReport/index.php?stockSymbol=&searchType=symbol

Leisa
Something about below zero temperatures that keeps me from thinking about Roses. I do know the Routas vineyard, however. Although they are in France, their star winemaker happens to be from California. Can't remember his name but he turns out some very good and well priced wines. Not easy to be a gringo winemaker in France I would think.
Good weekend to all.
Now where is that cork screw?

This Baidu ad is very popular in China :

http://www.youtube.com/watch?v=j-5G98g3-DI

Economic Nationalism on the rise in China?

Bill--Hope you made out alright with surgery and your pneumonia is gone.

Mark M--Welcome back and good luck in your topsy turvy new world. Makes life interesting.

Leisa--No doubt an unraveling of the yen carry trade would result in chaos in the markets as funds rush to the exits. And there are more leverage by hedge funds today than in 1998!

One of the interesting things with the weak Japanese yen is the strengthening Chinese renmbi at the same time. By continuing to strengthened vs USD while yen weakens confirms Chinese independence and a view Japan is not an economic threat to China. This is a new world and I ponder how to benefit and avoid pitfalls. I know one thing: It's important to keep an eye on the yen as well as a few other currencies. They can be an early "tell."

Enough already, it's the weekend. As one can read in prior posts by others, there's some thirsty people as a result of this week's action. Rig--with those temperatures, you may need something stronger than wine, but it's early yet!

Have a SUPER weekend!

Bill -- I hope your pneumonia is completely in your past. Now about that surgery....

MarkM -- We've missed you and I'm glad you're back. If your world is going to be topsy-turvy for a while, I hope it's going to be good topsy-turvy in an exciting, good way. If not...well, if not, I hope all ends well.

Leisa and Rigdon -- thank you for the wine comments and suggestions!!!!