Euro…is doing a 2 year swing. We expect to see 135.
EUR/JPY…resistance is 120.60
AUD/JPY…. As long is it remains higher on the year, this cross
remains an attractive buy on any descent pullback.

Oil…as long as Oil remains above 93.75 keep buying the breaks. 96 is next.

Silver…31.15-20 is point & figure resistance

IBM…197.30-50 will be a closing momentum level.
OXY…This has lagged everything for almost 2 years. 83.80 is next followed by 85

Nasd 100…put in a higher high last night from the previous 2 weeks. Price action under 2698
will get the lemmings running the other way.

Spu’s…need price action under 1457.75 for a start. 1446 is the level that will never go away.
use this as a downside pivot.

General Comments…

We put in some of the long term Yen crosses to give you a sense of  how big this revaluation can be.
CAD/JPY & GBP/JPY are both doing a very short retrace from the 2007 highs, while it is quite a different picture
vs. the EURO & Aussie, which look to be just starting swings from the 1985 Plaza Accord.

Again, trade location is key! These crosses have had significant moves and you must be patient and trade them on your own terms.

Model Trading Portfolio……….

Stop Close                         Profit Points

Long EWZ                                                                           56.05

Long Feb AAPL 550/575 call spread

AAPL is a 20 % position.

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.