Yamana Gold (TSX: YRI) (NYSE: AUY) - Q3 Results released 11/2/2011

Yamana Gold (TSX: YRI)  (NYSE: AUY) - Q3 Results released 11/2/2011

Highlights: Yamana Gold Announces Third Quarter 2011 Results

• REVENUE INCREASES 22%
• OPERATING CASH FLOW INCREASES 57%
• RECORD ADJUSTED EARNINGS INCREASES 63% 

Yamana Gold CEO Peter Marrone said:

“We continued to focus on delivering growth across all measures, enhancing shareholder value and generating significant cash flow in the third quarter,” 

 Production Highlights:

The miner sold 214,980 ounces of gold, 2.6 million ounces of silver and 38.7 million pounds of copper in the quarter compared with 217,094 ounces of gold from continuing operations, 2.5 million ounces of silver and 43.5 million pounds of copper from continuing operations a year ago.

 Dividend Highlights

The gold miner said it would now pay a quarterly dividend of 5 cents per share, up from 4.5 cents last month and 3 cents in April.

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EURUSD Short term Triangle - Technical Analysis - November 2, 2011 12:52 AM EST

I would not be surprised to see this triangle breakdown and make a run for short term lows.  No news is bullish for the EURO, the deal that was reached last week to save the Eurozone has been tossed out the window with the Greek Referendum called.  No one can expect a country that is being squeezed by an economic slowdown along withe riots and crippling strikes, will vote for more pain in the short run.

Gold holds as market tumbles on Greek Referendum

The stock market dropped dramatically in the morning, bounced then sold off near the end of day.  S&P500 down 2.79%.  Gold however held up very well, selling with risk off mood but bought up on the dip showing the bulls are back in control of this market.  It isn't surprising that gold is catching a bid while other risk assets tumbled.  With Yen intervention Sunday (Sharp 5% jump) Night and Greek Referendum (over 3% drop in Euro) called today, major currency are at risk of volatile moves.

Continue to watch gold as the US will be entering debt discussions shortly to find ways to trim its deficit.

Note the volume is above average and bearish.  This market is in trouble with breaks of 121 on the SPY.

GLD intra-day Nov 1 2011 - Triangle breakdown - saved by VWAP

Triangle break was down, but so far it appears the VWAP is saving the price action from falling lower.

Reality sets in (at least in the short run) - S&P500 down over 2.2%, Eurusd collaspes

Anyone that participated in that ridiculous rally on the news that the Eurozone is "saved" have just got served.  The price action has moved sharply lower.  This Candle stick pattern some what fits the classic Evening Star

  

The EURUSD has led that collapse as Greece have been discussing a potential referendum on the current plan.  Judging by the number of violent riots and strikes I highly doubt the referendum will pass with flying colours.

USDJPY jumps over 3.5% on Yen intervention - Forex madness continues

You haven't seen a chart like this in a while.... Yen intervention underway, pushing the USD/JPY up 3.5% +.
The Forex madness continues....

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UPDATE: 1AM EST

The first picture was at around 10pm October 30th, 2011, where the USD/JPY was trading at 78.512.
At 1am October 31st, 2011 USD/JPY is standing at 79.199.  The strange part is that the price action has just went dead for the past couple of hours.

Zerohedge speculated that we have see the next currency peg we have seen recently (SNB with the EURCHF being the first).  From the Article: Please Welcome The Latest Currency Peg

"For the last 45 minutes, USDJPY has been unable to shake loose of 79.2 by more than a pip or two. Following the SNB and their efforts with EURCHF, which as far as we recall is technically pegged at 1.20, is Azumi now pushing another of our freely floating foreign exchange currencies to a peg, as he soaks up any and all USDJPY offers under 79.20?"

From the Bloomberg Article : Yen Drops on Intervention; Aussie Weakens

"The yen sank 4.5 percent to 79.20 per dollar as of 1:25 p.m. in Tokyo after climbing to a record 75.35 earlier today. The Australian dollar dropped 1.6 percent. The dollar-denominated MSCI Asia Pacific Index slid 2.8 percent and Standard & Poor’s 500 Index futures lost 0.7 percent. Copper sank as much as 3.7 percent in London, gold dropped 1.4 percent, and oil retreated 0.8 percent in New York"

EURUSD Plunges on news that MF Global is nearing bankruptcy

5 min chart, as you can see Eur/Usd just woke up to negative this Sunday.  The pair has continued to drop since this screen shot.

For an updated chart check out: freestockcharts.com

From Zerohedge / Bloomberg

• CLEARINGHOUSES SAID TO PREPARE FOR MF BANKRUPTCY, WSJ SAYS
• US REGULATORS ALSO PREPARE FOR MF BANKRUPTCY, RESTRUCTURE: WSJ