Chinese Yuan Hits New Highs Versus Dollar

6.4988 to the dollar

Passing $36 now, on its way towards lighting silver bears’ faces aflame.

[youtube:http://www.youtube.com/watch?v=779OY7IgCfE 616 500]

Obama just got 4 more years.

Bin Laden “embraced martyrdom as per the Will of the Almighty Allah during an abrupt abrupt attack by the American invading soldiers,” according to a statement released by the Taliban.

Another Chinese burrito scam?

Mess with the banks; lose your freedom.

Classic Lenny:

market cap over 5 bill

No. Ticker 1-week Return Market Cap
1 HLF 16.90 6,110,000,000
2 DISH 16.69 12,980,000,000
3 MGM 14.14 7,000,000,000
4 KEP 13.68 16,000,000,000
5 GMCR 13.31 10,430,000,000
6 UAL 12.40 8,520,000,000
7 SIRI 12.06 8,340,000,000
8 M 9.12 11,170,000,000
9 DAL 8.09 9,370,000,000
10 ERTS 7.78 7,250,000,000
11 OI 7.25 5,120,000,000
12 BAP 6.25 7,860,000,000
13 ROST 6.11 9,240,000,000
14 VMED 5.85 9,990,000,000
15 LCAPA 5.63 6,890,000,000
16 CCL 5.62 32,420,000,000
17 GILD 5.61 32,150,000,000
18 HNP 5.50 6,450,000,000
19 FE 5.43 12,570,000,000
20 YHOO 5.42 24,130,000,000
21 MHS 5.41 24,790,000,000
22 CUK 5.40 33,620,000,000
23 CBS 5.35 17,950,000,000
24 LINTA 4.98 10,510,000,000
25 CCK 4.47 6,070,000,000

——————————–

1 CSC -14.65 6,740,000,000
2 EGO -14.44 8,830,000,000
3 XEC -13.82 8,360,000,000
4 HP -13.02 6,220,000,000
5 PXD -12.88 10,330,000,000
6 LYG -12.53 59,230,000,000
7 GG -12.38 38,900,000,000
8 ANR -11.95 6,800,000,000
9 SLW -11.92 12,420,000,000
10 CXO -11.71 9,680,000,000
11 MUR -11.41 13,220,000,000
12 JOYG -11.36 9,410,000,000
13 STO -11.29 83,010,000,000
14 GGB -11.22 15,840,000,000
15 HMY -10.73 5,880,000,000
16 GFI -10.71 11,460,000,000
17 CLR -10.70 10,270,000,000
18 NBR -10.54 7,910,000,000
19 NOV -10.51 28,930,000,000
20 AU -10.40 18,460,000,000
21 BHI -10.34 30,290,000,000
22 CCH -10.30 9,470,000,000
23 WLL -10.24 7,320,000,000
24 AEM -9.97 11,450,000,000
25 MEE -9.96 6,400,000,000

No. Ticker 1-week Return
1 ZSL 68.84
2 SCO 31.33
3 DTO 27.42
4 ERY 23.49
5 DUST 21.11
6 DUG 15.38
7 TVIX 15.03
8 SZO 13.60
9 CVOL 12.00
10 TZA 11.98
11 EDZ 11.43
12 SRTY 11.22
13 DPK 11.07
14 LHB 10.60
15 SMK 10.17
16 EPV 9.46
17 DZZ 9.43
18 GLL 9.39
19 SMN 9.36
20 BZQ 9.09
21 VIIX 8.55
22 SKK 8.31
23 TWM 7.97
24 DRV 7.87
25 VXX 7.51

——————————

No. Ticker 1-week Return
1 AGQ -47.78
2 PSLV -27.11
3 DBS -26.82
4 UCO -26.09
5 SLV -25.77
6 ERX -20.46
7 DYY -19.44
8 NUGT -18.65
9 GLTR -15.34
10 UCD -15.24
11 OIL -14.54
12 USO -14.00
13 DIG -13.93
14 OLEM -13.93
15 DBO -13.91
16 OLO -13.84
17 LBJ -13.54
18 USL -13.45
19 BNO -13.27
20 RJN -13.17
21 SIL -13.13
22 DBE -12.71
23 JJP -11.65
24 GSP -11.58
25 JJE -11.57

A larger than life move in the 321 crack spreads is taking place right now, now up a staggering 6.9% to $29. We are now approaching 5 year highs.

Related: Gasoline is up more than 2%.

However, there is a “crisis meeting” taking place in Luxembourg.

Full article

1 PSLV 8.82
AGQ 8.17
2 ERX 7.28
3 EDC 6.92
4 LBJ 6.03
5 XIV 5.17
6 DIG 4.74
7 NUGT 4.70
8 GDXJ 4.67
9 UCO 4.56
10 XPP 4.36

Now more than $12 wide or 12.5%

Futs are 13 points above fair value.

Gold +15.16 to 1,487.75
Silver +.20 to $34.88

Silver has declined in value to the tune of 30% this week, the largest decline since 1983 when the Hunt brothers cornered the market. The fact of the matter is, silver was doing just fine until the CME hiked margin requirements a record 5 times over the past 2 weeks, an 84% increase in trading costs.

Gasoline dropped far less than oil today. As a result, crude dropped about 10% and spreads went up 2%, nearing $28.

Down 30% over the past week!

Raw commodities have been punished over the past month, following monster returns. Recently, silver has been the headline loser, due to margin requirements being lifted 4 times over the past two weeks. However, the losses were not isolated to just silver.

1 month returns:

Cotton -22%
Sugar -21%
Lead -15%
Livestock -10%
Palladium -10%
Lithium -7%
Silver -6.5%
Coal -5%

Due to a sharp pullback in Brent crude, the spread is now a touch under $10, down from a high of $15 a few weeks ago.