Spu’s…are back to last years high. Only a close in the equity indices under yesterday’s low
would cause liquidation. By remaining firm after 12:30 CST we would expect another late day melt up into the close.
Oil…92.75 is the weekly support #, with Point & Figure support coming in right here just above 93.00.
Day traders have been getting good low risk looks for 60-80 point trades.
Yen…the futures have fulfilled our swing count to the downside by printing the 111 handle.
The crosses as well as the Futures need some time to digest before we can determine new tgt’s.
Euro…Buystops are over 133.10
General Comments…
Today will be a big day for The Grains and the associated names.
The crop report will be released during trading hours. OY ..WHAT HAPPENED TO BEEKS?
We’ll be out of the office the rest of the day.
Model Trading Portfolio……………..
Stop Close Profit Points
Long ANR 9.40 11+/ 12.30
Short Term View…We are using Monday’s closes ( 12/31/12) in everything for our trading bias for the qtr since all trading is bench marked against these closes.
Medium Term View… updated qtrly
These are static levels that do not change.
The Medium Term View will be included as a courtesy for our clientele in the A.M. Look. It will no longer be available in our archive section until the end of the qtr.