Bears are in serious trouble, as indices keep making new highs for 2012.
All indices were green again, after a huge move UP yesterday, a sure sign of runaway bull market.
Reading TAPE is not that difficult, especially in 2012.
Internals are mixed.
Oil Down 3 cents
Gold down $47.70
Canadian $ Down 29 tick @ 100.86
VIX UP 5.41% @ 15.60
Portfolio is AMZN,CNQ,LEN,MS,OTEX,RIMM,RVBD,
Most stocks are down
@ 1.40 following are UP :
AAPL,CLF,COH,FIO,VMW,QCOM,GOOG,M,
MU,VECO,CRUS,SBUX,X,WYNN,SNE,MFC.
BLOG does NOT give buy or sell.
Saleem
5 comments:
Bought APKT and CNQ (after the news that horizon facility will start soon).
Good Luck All
Paramjeet
Hi Paramjeet,
CNQ is starting Horizon production on 15th March...which is few hours away.
Good luck with APKT & CNQ.....
Saleem
SALEEM
Copper news:
Not sure of the significance of this but I found it interesting never the less. We see how copper prices move counter to the USD, so it's kinda hard to get a fix on it's true value from a global perspective. So what would happen if we took the USD out of the picture altogether and studied the historical price of copper in terms of gold; that is, how many ounces of gold are required to purchase a ton (2,000 lbs) of copper?
10-MAR-2007: Au = $655/oz., Cu = $3.00/lb or 9.16 oz./ton
10-MAR-2008: Au = $970, Cu = $4.00, 8.24 oz./ton
10-MAR-2009: Au = $900, Cu = $1.75, 3.89 oz./ton
11-Mar-2010: Au = $1105, Cu = $3.50, 6.35 oz./ton
10-MAR-2011: Au = $1430, Cu = $4.25, 5.94 oz./ton
10-MAR-2012: Au = $1700, Cu = $3.86, 4.54 oz./ton
C
Hi C,
I will try to analyze copper in few days.
Saleem
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