Wednesday, January 28, 2009

Ice Storm

I'll be working from home for awhile this morning until the streets, which are a sheet of ice, thaw.  Please email rather than call this morning.

Markets are better with the Bad Bank solution talk from Washington.  Also, the Fed will conclude their meeting and issue a statement later.  I think there is potential for a much larger move in the S&P, maybe another 100 points.  I have mentioned it earlier in the week and it has been difficult to pick stop levels but stocks feel like gold at 850 last week.

Gold is correcting from its recent rise and may have a bit more to go, but I'm looking again to get long gold. 

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