Stocks...
Spu’s…resting sell stops are below 1760.
CAT…has had a huge bounce from last Friday’s plunge to the 200 day mvg avg. This bounce looks completed. 94 is the short term tgt for this bounce.
Bonds…
30 yr. Bonds…134.24 is the continuation 200 day mvg avg.
Bunds & Italian Bonds…look too rich to chase.
FX…
AUD/USD…a close below 87.10 puts in an ORL day.
Commodities…
Natgas…The last time we had an expiration squeeze and a blow off high in an energy contract like we saw in the Natty, was the Oil in 2008.
To put it into context, that was the high for an 85 dollar break in Oil.
Trade what’s in front of you one step at a time! 4.86 daily & weekly support. Closing below 4.70 should lead to another puke.
This is a place to pay for your trades (Take some partial profit) and hang on to see what happens.
Gold…1250-52 will be pivotal. With a Risk off board (stops being run in the Spu’s) a rally to the low 1260’s is possible. Don’t be in a hurry to sell the Gold with a Risk Off board.
General Comments orValuable Insight
It’s month end. Instruments tend to travel in the direction they’ve been moving all month.
Trade at technical levels.
Every instrument is an island unto itself.
We’re looking at the buy levels in the Equity Indices for a short term bounce only!!
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 are neutral Equities. The next several weeks are setting up to be a big trading affair.
Current Positions….
APPL Long
We’ll take a look after the opening
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Today’s Working Orders
Spu’s…(ESH4) BUY @ 1732 GTC
Nasd 100…(ENQH) BUY @ 3441 GTC
USD/JPY…Sell Yen @ 100.35 (H) Futures…Buy USD/JPY @ 99.65 GTC
GTC…Good Until Canceled
