Pre-Market Brief

Good morning. Futures are a touch lower, sp -2pts, we're set to open at 1690. Equity bulls should be content with any close in the 1680s, considering the earlier action this week. Metals are significantly lower, with Gold -$18. Oil is also especially weak, -2%.


sp'60min

Summary

Well, its been a rough week for many out there.

Considering the power of yesterday's daily candle, I'm going to guess we close in the low sp'1700s today, which should be enough to turn the weekly charts back to outright bullish.


*I will look to exit a small SLV (short) position early this morning..and that will suffice for me this week.
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Thank the gods..its almost the weekend
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Naturally, Mr Permabull thinks Boehner is Santa claws...



urghh


9.44am... exited SLV short.... am long USO (oil)...will hold over the weekend.
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If equities are going to have another ramp..Oil will likely be part of the party. I can't stomach meddling in the indexes, but I can manage Oil.