OIL

Oil looks like it is in a serious sell off here- Man get that oil down I have a bet against Cramer. . Please goto $95 please :)
Just a little humor there but yes Oil to $95 as I said last month before $115.

Commodities pullback

Finally we are seeing some pullback in the commodities and commodity related stocks. Oil is down $4, gold is down $10 and the agro stocks are down. Maybe this is the fast money moving out of the commodities here. I been saying a pullback should happen for over a month now, I will see how this plays out here, maybe we can catch some plays.
I was done trading the first 30 minutes of the day as I made my profit goal for the day plus I have a headache. It is 12:30. lunch time period so not much is going on, will update tonight on some of my thoughts shorter term here

Government giving FED more Power

This has serious implications which I wont get into this early in the morning. The FED (Federal Reserve) is a private institution and not governed by the Government. Giving more power for our financial infrastructure to a private entity is giving up the nation's power. This is the worst move I have ever seen in Finance. Bernanke is the WORST fed chairman EVER, but it seems that the political pressure of the election is twisting the arms of those who would normally object to such moves.
Well the announcement will come at 10 am this morning so I will be watching and see how the market reacts.