Stocks...
DAX…10,770 is support. Sustaining and Closing below this level will lead to a sell off of a couple of hundred points.
11,000 was the tgt for this swing and is now resistance and the closing upside pivot.
Spu’s..2060 is the low risk buy zone.
LNKD…sustained price action under 264.50 should put this name in profit taking mode.
Bonds …
TBT…46.39 was last year’s close. There will be resting buy stops above.
FX…
AUD/JPY…92.41 yesterday’s ORH# is support. 93.39 is closing resistance.
Commodities…
OIL…will continue to be a big back and forth rip your face off affair.
XOP & LINE,USO & OIH all put in ORH days yesterday, patterns that the WTI failed to confirm after the NY Pit Close.
XOP & LINE,USO & OIH all put in ORH days yesterday, patterns that the WTI failed to confirm after the NY Pit Close.
General Comments or Valuable Insight
It’s time to be very patient.
Yesterday I looked at a lot of trades all via the options as a vehicle to manage the idea. I passed on all and I’m glad I did.
It’s the mid-week shuffle with Fed minutes this afternoon.
Focus will remain on the Bond Futures and individual names.
…………………………………………………………………………………………………………
Current Positions…. Entry Stop TGT
LONG ZIOP 7.99 8.50 Close
LONG DXJ 50.38 49.90 Close…………………………………………………………………………………………………………. Working Orders…..
LONG DXJ 50.38 49.90 Close…………………………………………………………………………………………………………. Working Orders…..
SELL another 30% piece of the original ZIOP position @ 10.90 GTC