Stocks...
WFT… is up in pre market. This should trade into the $8 level.
COP...has broken out. This looks good as long as there is no close below 35.
PSX…buy any weakness into the 81’s
LNG...despite Natty failing to catch a bid the names are being bought.
Bonds..
30 Yr…(M) is currently stuck between 162.00 support and the low risk sell zone of 164.00.
FX…
AUD/JPY…is just starting to gain momentum. Monitor this on any pullback.
AUD/USD…pattern buy stops are @ 73.86.
Support is back at yesterday’s 200DMA breakout @ 72.54
Commodities…
General Comments or Valuable Insight
Although many energy names bottomed mid February with the U.S. Indices they still look attractive on pullbacks.
Quality MLP’s are worth a close look.
Spu’s need price action and a close under 1964-65 (the Jan Unemployment high) to break anywhere. The upside is equally limited and would stay away from buying any strength.
All the action was in the Dollar yesterday. I’m looking for more of the same today with
range bound U.S. Indices ahead of tomorrow’s unemployment release.