FOMC Tuesday, Dollar Heading South Short Term?

Oil was down today to $121.41pb. $3.69pb off the open.

Gold closed down on the session. $907.90po was the closing price. Losing $9.60po today.

Dow was down 42.17 points this afternoon. With the Dow closing at 11,284.15.

The FOMC talk is tomorrow. Our guess is that if they do not raise rates, which I believe is measured at less than a 5% chance currently,the dollar will most likely drop in value. This

The economic calendar for tomorrow is below.

http://www.bloomberg.com/markets/ecalendar/index.html

The commodities took a hard blow today. They were the biggest losers for sure.

Watching the DBA and the JJG for the agricultural pricing outlook in coordination with the fertilizer group and the railroads, you can grab a sneek peak of what might be coming down the pike.

Keep an eye out for Iran or a hurricane to spark a renewed interest in energy.

Don't get caught in a value trap, but as long as the trend is going down, I am going to try to list the largest price losers for the day.

WCI WCI Communities Inc 0.66 Aug 4 Down 0.60 (47.62%)
TRNS TRANSCAT INC 6.5050 Aug 4 Down 2.1950 (25.23%)
LDL Lydall, Inc. 11.81 Aug 4 Down 3.86 (24.63%)
RAIL FREIGHTCAR AMERICA, 27.94 Aug 4 Down 8.19 (22.67%)
USATP USA TECHNOLOGIES PFD 9.00 Aug 4 Down 2.50 (21.74%)
MTMC MTM TECHNOLOGIES 2.00 Aug 4 Down 0.50 (20.00%)
CHIC CHARLOTTE RUSSE HL 10.49 Aug 4 Down 2.45 (18.93%)
WGA WELLS GARDNER ELCTS 1.20 Aug 4 Down 0.28 (18.92%)
TUTR PLATO LEARNING INC 2.19 Aug 4 Down 0.50 (18.59%)
LBY Libbey Inc. 8.23 Aug 4 Down 1.86 (18.43%)
NRVN NATURE VISION INC 1.05 Aug 4 Down 0.24 (18.35%)
EDEN EDEN BIOSCIENCE CP 1.30 Aug 4 Down 0.29 (18.24%)
FCAL FIRST CALIFORNIA FIN 6.5450 Aug 4 Down 1.4550 (18.19%)
SBLKW STAR BULK CARRIERS 2.2690 Aug 4 Down 0.5010 (18.09%)
ORS ORSUS XELENT TECHS 1.16 Aug 4 Down 0.25 (17.73%)
WLT Walter Industries Inc 86.52 Aug 4 Down 18.13 (17.32%)
JAG JAGUAR MINING INC 8.13 Aug 4 Down 1.67 (17.04%)
HILL DOT HILL SYS CORP 2.22 Aug 4 Down 0.45 (16.85%)
BUCY BUCYRUS INTL INC 58.25 Aug 4 Down 11.39 (16.36%)
VIAP VIA PHARMACEUTICALS 1.55 Aug 4 Down 0.30 (16.22%)
NBBC NEWBRIDGE BANCORP 7.08 Aug 4 Down 1.36 (16.11%)
ATLO AMES NATL CORP 19.49 Aug 4 Down 3.68 (15.88%)
FBMI FIRSTBANK CORP 9.77 Aug 4 Down 1.84 (15.85%)
USS U.S. Shipping Partners LP 2.24 Aug 4 Down 0.42
FOOD Vaughan Foods, Inc. 1.60 Aug 4 Down 0.30 (15.79%)

Good Fortune from Trade Equity!!!