A.M. Look 3/3/11

Stock Bears…The 1319-21 level will be an important resistance level today. Sustained price action above and we’ll continue higher. It will still be a day of having an eye on the oil action and we would expect the inverse correlation to continue.

Metals…Gold 1433…Silver 34.70: these will be the key levels for the day session to remain below for a sell off into tomorrow. Unenjoyment Friday has always typically provided weakness in the metals off the number. The vast majority of the time the break held. Tomorrow we will focus on support levels that could stop a correction. It’s also important to note that the times we took out the unemployment lows the following week we saw significant pullbacks in the metals.

Grains..keep a break even stop on the remainder of your position and forget about it.

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