Thursday, 9 May 2013

Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open @ 1630. Gold is noticeably weak again, whilst Silver is flat. Oil is down almost 1%. USD is actually higher this morning, but only 0.1% so far.


sp'60min



Summary

*weekly jobless claims: 323k, that's on the low side.
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A touch of weakness to start the day....with latter day algo-bot melt...right?

Another 3-4 months of this nonsense, getting us to Trans 7200, sp'1800s.
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Its a disturbing scenario indeed.
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*I remain on the sidelines, but am looking to go long Oil, and short Silver. However, I'm not in any particular hurry for either yet.