So what Pit bull says ?

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.

Friday report - Bottom line

We have to wait to get a look at the jobs numbers and see if we have “over sized” GLOBEX volumes.

Overall we don’t have a good feeling about the markets right now. They are LONG over due for a pull back which would fit right in to a sell off before going back up during the DEC expiration and month / year end.


VISION FINANCIAL MARKETS


The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. VFM Trading its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction. There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results.

New !!! Pit tradres are talking from the floor

I am happy to announce of new section in the blog. Traders from the CME floor are going to share there thoughts and beyond that their great massive experience about the stock market.

The floor is the center of information crossroad of the market. Many institutions and hedge funds are placing their orders via the floor and it's well known that the best traders trade from the pit and own seat in the exchange.


VISION FINANCIAL MARKETS - 12.03.2009

The back and fill price action and the slower the markets get all seem to favor the upside.
With a mixed batch of jobs numbers and economic release the SPZ forged into new highs. We said we thought we would see some side ways to down type price action and with the exception of the early spurt up that’s pretty much what we got.

Oil got hit by low demand and the bond market was down, then up, then back down again. We had a lot of people asking about the bond move and all we heard was they trapped a lot of people long into the rally.

Look, we don’t want to see people get chopped up going into the end of the year. The way we see it is if you’re up, stay up. c If your down, don’t use the last 3-4 weeks of the year to get even. Take some common sense advice and cut back. We are now into the DEC roll and in a few weeks it we will be looking at the DEC expiration, a time many traders say makes it even harder to trade.

The less is better. The small ranges and the lack of volume have made it too hard to trade. We still think we will see higher prices but we also think the risk is going up the higher we go. Below is a snap shot of all the economic releases and scheduled speeches for today and tomorrow. After you read that you may agree that cutting back is the way to go. 1120.00-1123.00, 1130.00then 1150.00 are still our upside targets.


Disclaimer :
The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. VFM Trading its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.