Stocks..
Bonds
30 yr.…still needs to sustain under 134.26.27 for a point lower. The major qrtrly support and closing downside pivot is 133.12-17.
FX…
AUD/USD…is weak. Aussie could stop right in here on the Point & Figure chart or go another 50 points to 94.50
While EUR/AUD is into weekly resistance @ 145 the straight AUD/ dollar could go to 93.30 before I’ll buy it again.`
Commodities…
Oil… is finding resistance at 98.75 the 200 day mvg avg. 97.50 will be pivotal for another swing down to the recent lows.
General Comments or Valuable Insight
Let the day set up before you start firing.
Short Term View…
Individual stocks look to be an easier read based off their own technical s. The Equity Indices seem stretched at these levels.
Go with the flow. Use the 9/30 closes as your macro pivots. Trade the opening ranges and early time frames.
Today’s Working Orders..
Sell 1/2 the Long TBT position @ 74.40 GTC
Sell 1/2 the Long IBM position @ 182.40 GTC
Current Positions…
| Opened | Price | Stop TGT | |||||||||||
| IBM | Equity | Long |
10/17/13 |
174.5 |
172.40 |
||||||||
| TBT |
Equity | Long |
10/24/13 |
72.57 |
71.90 |
74.60/76.40 | |||||||