Monday, February 25, 2013

Paying Attention?

Sorry to have no post this morning but man oh man, was today eventful or what? You wake up this morning, Stock Futures are at new highs for the year, Oil is @ $94 and the lowly Euro is trading above 133 and even Gold and Silver are showing some decent strength. I warned this weekend of upcoming events that would shake things up this week, if you missed my blog over the weekend, please go back and see what I had to say.

One down, that being the Italian elections- that was a treat, let us see the markets at the end of the day. For starters lets start with the Euro which got hammered from 133+ to finished the day @13070. As I type this, Oil is trading at an even $92 and Gold actually held all of its gains and added some to finish around $1595. Lastly, I will give one chart and that is an hourly of Humpty Dumpty, aka Dow Jones.
A 200 point down day and the S&P closed well below 1500 @1487, imagine that! In a normal market, this is negative price action and should lead to more selling, however, let us see if the INVISIBLE HAND comes into play like it did so successfully last week. Once again, I really hope you go back and read my blog from the weekend!

Next, Event #2 we have Big Ben testifying tomorrow and Wednesday. I would love to get a dose of reality but I just have this feeling that Mr. Bernanke is shaking in his boots after today and most likely will try his best not to say anything to upset the Stock Markets anymore than what they were today. Let's see how tough they question him and if any real economic issues comes up? Can't have that now, can we?

The US dollar is just short of the 82 handle, I believe it will have a tough time from this level. With that being said, I must say, the CAD and AUSSIE held up pretty well today considering the sell-off in all the other markets. I made some money in the Aussie overnight and think we have buys in both the CAD and Aussie now. You can trade off 97 in the CAD and 102 in Aussie, much more to gain than to risk at this point. Watch the equities, if the INVISIBLE HAND does not save the day or Benny does not help His baby out tomorrow, then I would say it is safe to say that all bets are off!

As for Gold and Silver, the charts are looking better with todays advance but I am still not all that impressed. With that being said, If you are going to buy, you better be quick and nimble and on your toes. I have a feeling that Ben Bernanke will move the metals one way or the other and the big boys will have their fun chopping both sides of the market in the next couple of days, if you know what I am saying! I feel much better about trading the 2 commodity currencies from these current levels.

Sorry to not talk about the metals as much, but it is hard for me to get excited at this point knowing what lies ahead in the next few days. Who knows, maybe tomorrow, all will be well with the world and gold will be thrown out the window as a lousy investment choice! But I did find a cute image to share with you this evening to go along with my last post after watching the Stock Market today.
The markets are crazy because of all the manipulative forces at play. I try to keep my head on as best as I know how. Today is just an example of how they can lose control because of one headline. If the market ever does crash, there are a million+ headlines out there that can cause you a great deal of grief. I am only here to help you see it before it is too late!

Thanks for your visit!
Be Strong


1 comment:

  1. crash it will, just probly not tomorrow or this week or even next month...................butttttt......

    its in the nosebleed section running on fumes....but there just may be enough fumes for another 1000 pts before its all over.

    but i'm not making that bet.

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