SPDR Gold Shares (GLD)

* Play along with me on this one! As I have mentioned recently I have noticed that on a very short-term basis $GLD has led $SPY. GLD has rallied about +$2.50 from the lows after being -$8. As GLD rallied so did the SPY. But GLD seems to be making no headway after the dead …

* As we treat it as a “trading sardine”… and not as a foundational long I treat all commodities and commodity-related equities as “trading sardines.” While I view gold as a prime beneficiary of the profilgate spending in Washington, D.C. (and continued currency debasement) – I still see precious metals as a trade and not (yet) …

I am back shorting the indexes on a scale this morning. The proximate causes include (as I mentioned midday on Friday): * Most importantly the inability for bond yields to stabilize even after Friday’s weak jobs report. * As financials go so goes the markets? Banks, after a deadcat bounce, are stinking up the joint. …

The weakness in gold ($GLD) — from $385 to $381 — is surprising considering the weak jobs data and the softness of the U.S. dollar. ( A similar reversal just occurred with $TLT from $78.32 to $77.75). My reaction is to sell more $SPY $771.93 and QQQ $753.76 … For now it is unclear what the message of the …

* I have meetings at 10:30 a.m., 2:30 p.m. and 3:30 p.m. so I am keeping you up early… Here are today’s things: * I sold my $GLD at $386.34 * I added to $GLAS $6.15, $GTBIF $7.14 and $MSOS $4.65. Positions: MSOS common VL calls M GTBIF S GLAS S