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Market Update

Bears on the Hunt Again

Now is a good time to ask if the market is resilient for forward looking abilities, easy low volume manipulation, or in the throws of a last hopes/ last ditch attempt of rallying out of technically negative territory.

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Asian Markets Off to SSDD Malaiseville

So U.S. futures opened to the downside as the Euro had a second fall and gold is trending higher; all setting the tone in Asia. Markets were expecting something from Geithner’s visit with EU finance ministers.

Glad i sold most of my position @ Friday’s open…but hey a schizoid market can do anything; like making me eat my words by lunch tomorrow….that’s an early pre-planned lunch break.

Yippy 

 

 

 

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Don’t Get Greedy Eddie

Just because i expect the S&P to have some head room up to 1240-1250 we must first get through 1220 and 1228.

I’ll take profits in TNA, FAS, TYH, and other selected shopping list stocks.

3/4s come off today and the rest will stay for the clam next week.

Today is options expiration and more importantly, this a trading environment until we can see a clear long term solution for Europe’s debt problems…..

GLT

 

[youtube:http://www.youtube.com/watch?v=-WCFUGCOLLU 450 300] [youtube:http:www.youtube.com/watch?v=zqe5FgwPLYU 450 300]

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Greenback Gains Against Most Currencies

The dollar remains a safe haven play for some. Expectations run high on a better than expected consumer confidence and that the slowing in the U.S. is not all that bad….

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