Thursday, July 2, 2009
S&P Futures
896 is the 161.8 extension of yesterday's up move. Watch that level for initial support.
POWER OF WINDOWS DRESSING
Todays movement down most will say it is the bad unemployment numbers but I have to tell you nope. The down movement today is a result of windows dressing, where managers who wanted to look smart bought the leaders of the second quarter to put in their portfolio to show they owned those assets. So why are we down well they just need to own them the last day of the quarter so their clients can see it even if they didn't participate in the upward move of the asset/stock in question.
That one of the main reason I shorted Oil as it was a leading performer for the second quarter. Nice place indeed up almost $5 on that short. These are trends folks and almost always works although nothing is certain the probability rate of these plays are extremely high.
Crude now $66.75
Have a safe fourth of July
That one of the main reason I shorted Oil as it was a leading performer for the second quarter. Nice place indeed up almost $5 on that short. These are trends folks and almost always works although nothing is certain the probability rate of these plays are extremely high.
Crude now $66.75
Have a safe fourth of July
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