Monday, February 28, 2011

Broken Market, As Dow Levitates and Gold/Silver Get Slammed on Close, and No One Wants USD

The Fed's unofficial third mandate is to keep Dow Jones Industrial levitating and gold and silver down (so that JPM and HSBC can survive another day shorting silver).

Dow's "strength" is due to:

Disney (up 1.7%)
3M (up 1.9%)
HP (up 2.5%)
Pfizer (up 1.9%)
Verizon (up 1.5%)

Notable laggards in Nazdaq (which is down for the day so far, by the way):

Amazon (down 2.4%)
Netflix (down 4%)
Intel (down 1.9%)

(At least my puts on AMZN is a modest success today...)

Small/mid cap (Russell 2000) is down, along with Nazdaq. Economy is growing, Mr. Dudley?

And still no bid on US dollar.


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