Took in my first Round Rock Express (AAA, Houston) game last evening. John "Bob" Saccamanno had the big stick with 2 boppers. The later came with 2 on in the 6th to straight away center field. We'll see him in the show.
The SPX bounced off of that 1515 pivot I mentioned the other day. Mid day strength could not hold especially with the 10-yr note above 5%. Apple I-Phone news out so the stock reverses an all time high. Even with an upgrade today, you probably have seen a short term top in the name. Support in the 97-99 range for you dip buyers.
Keeping a keen eye on the Gold chart. Looks like the bugs have left and trend is down. As the dollar rally continues, watch for more downside action in the commodities. With gaps in material stocks from last week takeover rumors, it may be a good time to play some of these on the short side.
1 comment:
Gold is heading down and the USD is moving up because FINALLY the Fed is rumored to be willing to stand up to this runaway 2.6% inflation we have.
At this rate, the basket of goods and services will double every 27 years or so.
RUN FOR THE HILLS!
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