Friday, February 19, 2010

February 19th, 2010

The spot gold and gold stocks pullback after a nice runup in the last few weeks.

The U.S. dollar currency is breaking out.

I am expecting USO to hit 36 to 37 area again.

I am expecting SPY to hit 108 again.

8 comments:

  1. that may be the top in oil for the day. also, I am looking for that elusive reversal and late day sell off in SPY. this is one strong mofo of a market, that is for sure. OPEX may have alot to do with it, imo.

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  2. mmm. guess I was 100% wrong on the oil call. figures. gonna see how it plays out at end of day.

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  3. Ok, lets try one more time. short term top in oil and on SnP???? looks a bit more promising this time

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  4. I believe the market will closed where it's opened today.

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  5. Damn, GCL.. I hope you are correct, because I am very heavily short. Fed news is basically a non-event, but techinically, the market "should" meet heavy resistance at these levels.

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  6. thanks! until I can make some decent calls, it may not be that great that I'm back.

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  7. Well, that was fugly. I am out. will try again monday

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