Incredible volume in the PDLI March 30 calls (PDL Biopharma), with earnings due out Monday, over 2300 contracts traded. Somebody either knows something or is speculating big time. I wish I had bought some of these calls on Tuesday/Wednesday for 75 cents, trading today at 1.25 to 1.30.
ABX (Barrick Gold) down over 5% near its lows of the day. Next support is 26 and it is almost there. Earnings seem okay on the surface, good enough for an after hours bump up, but stock is getting hammered. Somebody may see something in the fine print they don't like. There is little on the wires explaining the tape action.
Apex Silver continues to run, up over 8% today. At this point it looks like a short covering rout. Again, this 30% run seems to be on no news and little movement in spot silver. Sometimes the market can be mystifying.
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