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Quote of the Day

Thursday, March 01, 2012

March 1, 2012 --

 

TODAY'S MARKET ACTION:

 

My PTI was up 6 at 6387. The moving average at 6346, so my PTI is bullish by 41.

 

The Dow was up 28.23 to 12980.30.

 

Transports were up 58.32 to 5211.48.

 

Utilities were up 1.66 to 453.20.

 

NASDAQ was up 22.08 to 2988.97.

 

S&P 500 was up 8.41 to 1374.09.

 

There were 2048 advances and 989 declines on the NYSE.

 

There were 156 new highs and 6 new lows.

April light crude was up 1.77 to 108.84.

 

Total Volume on the NYSE and associated exchanges was 3.91 bn.

 

Bonds: Yield on the 10 year T-note was 2.03. Yield on the long T-bond was 3.15. Yield of the 91 day T-bill was 0.076%.

 

Dollar Index was up 0.07 at 78.80. Euro was down 0.23 at 133.16. Yen was up 0.13 at 129.34. Currency Prices as of 1 PM Pacific Time.

April gold was up 10.90 to 1722.20. May silver was up 1.01 to 35.66.

 

My Most Active Stocks Index was up 6 at 295.

 

The Big Money Breadth Index was up 6 at 1022.

 

GDX was up 0.49 at 55.89.

 

HUI was up 4.21 to 533.94.

 

CRB Commodity Index was up 1.89 at 324.32.

 

The VIX was down 1.17 to 17.26.

 

Permanent Portfolio Fund (PRPFX) was down 0.75 at 49.13 (previous day closing). YTD Return: 6.60%.

 

Late Notes -- Dow didn't close above 13,000, a bad sign. April gold closed well above 1700. A positive sign for gold.

 

The Dow and gold appear glued to their current levels. I can't remember seeing anything else like this before. It's really amazing.