Market Scheming: Stock Market Analysis: 10/23/2011

Wednesday, October 26, 2011

EuroSummit Over EURUSD Chart almost at 61.8% of August peak

Tough resistance above for the EURUSD.

The EuroZone Plan of 1 Trillion Euro EFSF seems smaller than the market has priced in.
The 50% hair cut of Greek debt was a given.

Yamana Gold (TSX: YRI) (NYSE: AUY) - 10/26/2011 - Unusual move, likely flushed out weak hands

Yamana Gold (TSX: YRI) (NYSE: AUY) - 10/26/2011

Research done by Andrea Kramer on Schaeffer's Options Center

Article: Unusual Call Activity on BP, STP, AUY, and CMI - 10/26/2011 10:29:36 AM

"Moving on, AUY followed gold futures into the black yesterday, attracting a bevy of bullish option bettors in the process. Garnering notable attention was the near-the-money January 2012 16-strike call, which saw close to 4,250 contracts change hands. The bulk of the volume traded at the ask price, and call open interest at the LEAPS strike ballooned overnight, pointing to newly bought bullish bets. In early trading, AUY has tacked on another 1.7% to explore the $15.77 region."

Andrea was referencing this spike in volume for the 2012 Jan 21 16.00 Call for Yamana Gold Inc.

Yamana Gold's Thrid Quarter results will be coming out November 2, 2011 after close.

TORONTO , Oct. 4, 2011 /CNW/ - YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:YAU) today announced that its third quarter 2011 results will be released after market close on November 2, 2011 followed by a conference call and webcast on November 3, 2011 at 11:00 a.m. ET .

Press release PDF download

Tuesday, October 25, 2011

Correlation breakdown SPY vs GLD: Repeat of August 2011?

During the market crash in August 2011, gold found its place as a reserve asset as the USD was under fire due to a lack of a debt agreement. It appears that from the latest move in gold and S&P500 that this reserve / safe haven status is returning. With the market dropping almost 2% today and gold rallying almost 3% the lock step correlation over the past 2-3 months appears to have broke down.

The next few days will be key to determining where these asset classes will go next.

Alexco Resources - Bullish outlook on strong move in silver $AXR 4.8%

On of the regular stocks that I follow is Alexco Resources. AXR.TO.

Using a fib fan to draw the cyan lines. It is obvious how these lines played their role in how the price action has moved over the past 4-5 months.

Today The 4.8% break out above the 200 and 50 daily moving average. Look for confirmation tomorrow if there is a close above the 7.75 level we could be in for a resumed medium term uptrend.