The ECB has lent over $450 Euros since it incorporated LTRO on December 21, 2012. There is speculation that the ECB is going to inject another $470 billion this week. In my opinion, the market has anticipated this move for a while and I think the official announcement should be a non-event. Then again, the trick is always trying to determine what information is priced in to markets and what isn’t. Amyris Inc. (AMRS) is getting crushed since the company reported poor fourth quarter results from its leading drugs. AMRS is down over 11% to $5.72. Apple (AAPL) is expected to announce its iPad 3 on March 7th. AAPL made another new 52 week high of $534.62. Dominos Pizza (DPZ) broke out of its wedge today and shot up 13.50% to $38.02. Pizza stocks were some of the best performing stocks in 2011. ZAGG Inc. (ZAGG) saw a 10% rally today after a .02 earnings beat. I am surprised the stock isn’t up more given that 50% of its shares are sold short.
With Gold and Silver showing continued strength, small beta pin actions plays are starting to show signs of strength. I like Paramount Gold Mining (PZG) on a break of $2.82-$2.84. Very easy risk management as a stop can be placed underneath the descending trend line. A break of $3.15 on heavily volume could send PZG to $4 in a short amount of time.
