NO VOLUME-

Yesterday we tracked the lowest volume of the year in the markets- we aren't going anywhere at all- we still trading around the 1404 area mentioned last week YAWN!!!

1404

we trading around this level all day- I believe it hold and we go higher but as of now it is slooooooow going.

Update

So yesterday I mentioned the 1417 level for the bulls and we failed to reach that level in the regular trading hours but as usual in these days of computer generated trading we did hit that 1417 in the overnight session! This is what has been happening for the last few years and that's why it is difficult for the average trader to make money because the big guys use quants and execute trades in the overnight sessions. Anyways since we tested that level overnight and rejected it we now have to look at a test of yesterday's lows and see if they hold. If we don't hold them and bounce that would signal a deeper correction to come. level to watch on the low side is 1404

Update

So Gold has been getting a bid since the Soros news came out. Also BINGO on APPLE with new highs. Right now he market is still in lala land and you must be extremely patient with positions. Yesterday I read that only 11% of hedge funds are outperforming the indices and that tells me going into the end of the year there might be a rush in with heavy volume for those manager to show something for them to get their usual exorbitant bonuses, it is all a game! The reason why we are in lala land is because most funds are just sitting on their hands as their is not mush volatility anywhere that warrant them to take risk. Elections should prove some movement either way! As long as the republicans think the have a chance to win I think the market will thread higher but it Obama is re elected get reading for lots of the slow drift upwards to be sold. Lets see if the bulls can get to that 1417 level today on the S&P. We trading at 1407 before the open so we would definitely need some action to drift us up in this low volume environment.

Paulson and Soros buying Gold

Hedge-fund managers John Paulson and George Soros boosted their gold holdings during the second quarter, a sign that some high-profile investors were still banking on higher prices for the precious metal despite its lackluster performance this year. John Paulson's Paulson & Co. Inc. raised its stake in SPDR Gold Shares GLD +0.60% , the world's largest exchange-traded gold fund, by 26% during the three months ended June 30. Paulson & Co. held 21.8 million shares, valued at $3.3 billion at the end of June, according to a quarterly securities filing released late Tuesday. The fund also increased its holdings of gold-mining companies, holding a combined 98 million shares, up 3.5% from the previous quarter and valued at $1.9 billion. Paulson's gold ETF and mining-company holdings together accounted for 44% of its U.S.-traded equity assets, from 33% the previous quarter. Soros Fund Management LLC more than doubled its stake in SPDR Gold Shares during the three months ended June 30, according to a filing, to the highest level since the end of 2010. The hedge fund held 884,400 shares, valued at $137.3 million at the end of June, from 319,550, or $51.8 million, the previous quarter. Soros Fund nearly cashed out of gold during the first quarter of 2011, reducing its shares of SPDR Gold Shares by 98%, to a stake valued at less than $7 million. The fund continued to pare its position, to a low of 42,800 shares during the second quarter of 2011, before rebuilding its stake in the quarters that followed. Benchmark gold futures fell 4% during the period covered by the funds' securities filings, as the European Central Bank and the U.S. Federal Reserve refrained from implementing new monetary-easing measures despite slowing global economic growth. Easing policies can raise concerns about inflation down the line, drawing investors looking for a currency hedge into precious metals. Through Tuesday's close, benchmark gold futures were up 1.4% in 2012, and down 15% from September's record high.

No summer action still

CNBC just reported that yesterday was the second narrowest day of the year. Boredom!!

AAPL

AAPL looks like it is on a mission running into the release of the Iphone5 which should happen in October. I would not be surprised if this CULT stock gets to new all time highs by then.