Tuesday, February 3, 2009

Market Update

I think the SP's are looking better but upper 820's low 830's are going to be hard to get through today.  I still think buying weakness will payoff in the next day or so with a move to the upper 800's.

Ten year notes look more negative again.  I think you can sell rallies for the rest of the day.

I missed the EC and Swiss right after the last post.  Now they're tough on a risk/reward basis but may have another chance to get long later.

It's interesting that gold is trading with the dollar recently and not against it.  It seems easy t o make a case for gold regardless of the dollar.  The daily chart still looks bullish from 900.  

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