Oil…98.09-25 is resistance and the closing upside pivot. A couple of closes over this level will be needed
for more upside.
30 yr….recovery over 144.02 is needed for a trad able low. Monthly stops are under 141.30.
Euro…Eur/Aud…have all come up to our tgt areas from earlier in the month ( 136 Euro & 130.30 ish Eur/Aud)
Soybeans…14.75 is a level we will watch for momentum. Above, look for a test of 15.08.
General Comments…
There is no technical evidence that direction will abate in the currency crosses or the Spu/Bond spread.
We get it, the rsi’s are stretched. Those that are looking or a contra trend trade should be very patient.
Model Trading Portfolio……………..
Stop Close Profit Points
Long Silver 30.50 (H) Puts
Long Feb AAPL 550/575 call spread
We were stopped out of Long TLT trade yesterday.
FYI…Anytime you wish to look up levels, go to the website (Click on Pro Tips…add the instrument you are looking for in the box…)
Everything I’ve written for the Month will appear.
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 no longer be available in our general archive section until the end of the qtr.