1,050 on $SPX or thereabouts is a very logical support zone – 34ema and 50ema on the weekly are around there, and stochastics are getting close to oversold finally… Curiously, the top box stochastics – long-term – haven’t moved much.
Around that level, or $105 on SPY, I will sell my SPY puts and will add to the calls. Once it gets to $105, it’ll be tempting to hold to $103, but that’s just greedy.
OMG, BRK.B is going to split, 50-to-1 and join S&P! That’ll be $66/share at today’s price.
Warren Buffett is likely about to orchestrate one of the biggest changes in years to the financial structure of his company.
Berkshire Hathaway Inc. is widely expected to approve a 50-to-1 share split of its Class B shares on Wednesday, a move tied to its planned purchase of the railroad giant Burlington Northern Santa Fe Corp.
With the split, trading volume will likely increase, and that could attract a new group of bigger and faster-trading investors. The B shares closed Friday at $3,247, a lofty price that limited the kind of investors who bought the stock to mostly those with …
Source: WSJ
Interesting chart, S&P 500 versus Gold spot price.
In terms of gold, S&P is at Fall 2008 levels!
Click to enlarge
And here’s the same relationship but with Gold in terms of S&P:
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