Euro…132.70 looks to be overextended the first time down.
EUR/JPY…123.85 is mvg avg support. Only maintaining and closing below this level
will lead to more profit taking in the cross.
EUR/AUD…anything below 128.45 will be trap territory the first time down.
GBP/USD…recovery in the Sterling above 155.70 will provide the impetus for a short squeeze before the weekend
G-20 Summit.
Metals…Silver keeps rejecting it’s 200 day mvg avg with Gold the bastard on the spread with the Platinum.
Profit taking this A.M. has kept the Gold within it’s recent 10 range.
Silver…needs above 31.00 on the daily maps to rally and it has to maintain and below the 200 (30.65) day to break.
30 yr. Bonds…143.06-11 is resistance and the closing hurdle for higher.
General Comments…
It‘s the tail end of the mid-week shuffle.
Currency traders…pay attention to the crosses for straightdollar confirmations.
I’m slightly out of step…a day early and a dollar short on some of these past couple of trades.
Cat…has yesterday’s ORL signaled the first of more profit taking to come?
We’ll find out soon enough. Trade every instrument on it’s own merits today.
Model Trading Portfolio……………..
Stop Close Profit Points
Long April BAC 12/13 call spread
Long Silver 30.50 (H) Puts
Long Feb AAPL 550/575 call spread
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.
Use 1/31/13 closes as your short term pivots in everything.
Time frame trading today.
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.
All current clients have received this. New clients will be provided a copy.