A.M. Look 8/23/11

The action should continue to be volatile over the next few days.

The first S&P # is 1160…The 30 yr. Bond traded the first support level of 138.28 last night. 138.02 is next.

Oil..84.12 is the closing pivot…today’s first resistance is 87.13 with 84.67 support the first time down. Dec. Oil will need a close under 84 to match up with equity weakness.

Silver…I was off 30 cents on the high. Today a close under 42.475 should be considered negative with more stock strength to follow.

Gold… That same # in Gold today is 1858.40. We are up $300 just this month in the Gold. A pullback to the low 1790’s would not be unreasonable. Again, a sell off here would likely match up with equity strength.

Today will be another highly technical, Time Frame, Lemming Effect, Trading day!

Model trading Portfolio…Current Holdings

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