Monday, January 5, 2009

The Dollar Index and Gold

We may have already seen the high in the dollar index and the low in gold for the day, but if not, we want to fade those moves today.  I'll come back with specific levels to trade.

Last week's rally in stocks was impressive but they still face a lot of resistance ahead.  I'm not a believer at these levels at this time.   Ten year notes, also, are bouncing from overnight weakness but may not have much further to go before resuming their selloff.   Again, looking for levels to trade and will post asap.

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