Wednesday, December 17, 2008

Market Update

Stocks are looking better (no surprise after a 40 point rally) and I'm looking to buy weakness today.  I still like holding short put premium positions in the stock indexes.

Treasury futures continue to rally against what I thought might be toppy levels.  The technicals remain bullilsh and I'm looking for a spot to reduce that exposure.

The dollar continues to decline against most currencies.  The only future in a 'zone' is the Yen in a sell Zone.  It's a place to roll calls higher if you have them.  A short futures trade should develop on further strength today around 1.1380.  

Nothing in crude or gold at these levels and chart patterns.

There is a substantial risk of loss in trading commodity futures, options and foreign exchange products. Past performance is not indicative of future results