VISION FINANCIAL MARKETS
Out of the last 12 Mondays; 1 was closed, 2 were down and 9 have been up. One of the down days was only off .60 and the other down 10.50.
Total loosing handles over the 10 weeks adds up to -11.1 handles; the 9 winning Mondays account for 97.90 winning handles. We have been asking how long this can go on and even we don’t really understand it.
The Pit Bull says all you got to do is just “buyem on Friday and holdem into Monday”, if only it was that easy.
Its 5:30 am and the SPZ that was up 2 handles is now down 5 handles. The dollar jumped to a five-week high this morning against the euro, crude is down .85 cents and is down $27.00 this morning. We worked in the old GOLD pit and like we said GOLD goes down a lot quicker than it goes up, that’s the history of the commodity. In Asia 6 out of 11 markets closed lower.
In Europe 6 out of 10 markets are trading lower. Our call? The markets are looking at the same stuff they were Friday. We think it’s possible we remain weak for the first part of the day then rally. There is a feeling out there we could dip one more time before going back up later in the week.
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