Stocks...
Spu’s…1800 is the downside support level.
Bonds…
30 yr…133.15 is the upper end of our resistance area.
TBT…70.40 would be a retest of the ORH qtr from 2013 when interest rates started to rise. This is a support area.
FX…
EURO…137.50 is resistance. closing over 137.85 could lead to more Euro buying.
Commodities…
Metals…the world is buying gold for safety not silver. It’s poked up to a new high on the long term point & figure charts.It would need a 30 dollar break off any high to say it had rallied too far.
Metals…the world is buying gold for safety not silver. It’s poked up to a new high on the long term point & figure charts.It would need a 30 dollar break off any high to say it had rallied too far.
General Comments or Valuable Insight
It’s been a wild ride in Europe over the past 4 hours.
I’m clearly early on my Bond trade. The calls could easily be off about 20 ticks this A.M.
I chose the TBT calls because I thought it was the lowest risk way to play for a possible low in the Equities and have a risk on bias.
I want to see how New York digests the emerging market contagion before I decide what to do with the TBT calls.
I’m going to keep my eye on the Mexican peso for tells of another move.
All the charts look a little different. The shorter time frame maps look
like they have initially come down too far, however the qtrly charts shows that this could be the start of a much larger move.
Meaning more Risk Off for world markets.
Let the day unfold.
Time Frame Trading.
Time Frame Trading.
Short Term View…
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We have a Long Equity Bias.
Current Positions….
APPL Long
TBT Long Jan 31 72.50 Call 70
Orders are “stop on close” unless stated otherwise
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Today’s Working Orders
No working orders