A.M. Look 4/15/11

Yesterday we bought DIG,OXY, and GDXJ ( Junior Miners). Later today we will write some OCO orders ( One cancels the other) in these instruments. One side will be a stop the other a profit level.

The big macro levels have not changed since yesterday.

Oil is a buy on a dip against the qtrly close with a tight stop. Metals.. Gold has to close 25 dollars lower to not buy dips. Watch Copper for tone in the overall equity indices.

Currencies..A close below 82.95 USD/JPY will lead to more of a correction. 97 USD/CAD is the big Pivot.

Spu looks to need price action over 1315 to run out the shorts on the point & figure chart.

Trade what you see today.

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