Friday, August 21, 2009

Friday homes again

Oil is in a n uptrend we all can see this I believe we have to make a run at the highs before a reversal -unfortunately everyone seems to be thinking the same thing
great minds may think alike but the general consensus has been wrong so often when I find myself in the camp I get nervous. Bernanke on the soap box today the german and euro data was all slightly better and we home sales today which can be a market mover anyone up for some 3x proshares today? Bernanke always tries to get an up day but he is running out of room he may have to hint at a pullback of the policy but it would not be taken well if that happened we have to sell there is no real upside he is not going to say they are gonna print another trillion and reduce rates to -10 %. Likely the homes is the more important figure if Bernanke is a non-event but we must pay attention just in case member pricing out shortly