Market Closer

As oil hit an all time high today, the Market shaved off the overall rally du jour.

Registering a high of 13132 today and then heading South between 230EST and the close.

The VIX closed up 3.28% today to 17.01.

Are we seeing the same pattern we saw in late 2007?

The late day sell off. Possibly, but here is the difference. This time around we have 2 major differences.

1. We have light volume compared to the 3rd and the 4th quarter of last year.

and

2. We are coming off the one of the darkest period Wall Street has seen in the last 50 years.

We think that the Dow will pull back when it hit the 13500-13800 marker on the Dow.
Where will it pull back to? Well that is anyones guess. What will be the catalyst that will initiate the pull back?

The catalyst could be oil, it could be the dollar, or it could be inflation.

There are trades that are setting up right now, concerning the 13500-13800 level on the Dow.

Keep an eye on the the currencies or the Rydex currency shares to give you a true hint of when these trades might start to unwind.

Follow these symbols, FXA, FXB, FXC, FXE, FXY, FXM, FXF, FXS.

We like NIHD in Latin America.



The also have on options on these currencyshares.

Google entered the health market today.

What a great company. Probably the company that will look more like a world government for the internet in 5-10 years. But I have one issue. Too much too fast in the direction of private information. They want your health records.
I want someone to tell me why this is a good idea. Please honestly, tell me one reason why anyone would want to relinguish their health records to Google. I am ready to learn the reason an individual would be involved in this, at anytime.

Emerging markets are seeing a lot of attention in the last few days. MSCI earnings have quadrupled in the last 5 years. Countries such as Brazil, Russia, Taiwan, and South Africa look as if they are decoupling from the US Market.

Good Fortune from Trade Equity!!!

Market LunchBox

Well, it looks like oil and gold are trailing the transports that are off to the races today. Dow Jones Transports are up about 2.5% today.

Although, the DBA is sitting on $36.30 currently, and is down 30 cents on the day, it looks as if it is holding the support level of $36 per share. It was down by about 70 cents earlier and looks like it might come back before the close of today.

Todays dollar index, was at 73.084, up from 72.799 in late US trading Friday.

Amazon(amzn) is up about 10% on an upgrade. This stock is likely to do very well at Christmas again. Will it beat last years numbers? Maybe...maybe not due to the overall economy, will it be a stock to watch before December earnings

We found this article on wind power very interesting.

If you think energy is important, you might want to give this a read.



Good Fortune from Trade Equity!!!

PreMarket Buzz

Yahoo is up 1.5% in Premarket trading this morning.

With the Dow Futures down 3 points and oil is up .83 to 127.12.

Citigroup has cut earnings outlooks for Goldman Sachs, Lehman, and Morgan Stanley.
Trading losses are to blame due to a tough operating environment.

There is not a lot of news coming out today.

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We think see the DBA moving north in the next several weeks.