Sunday, September 13, 2009

update ASia makrts

This looks to be a beating there was a bounce to 68.4
I would sell someplace tonight 
ASia is getting hit and The fuutres are through the floor by tomorrow every normal vehicle will have this futures crushing priced in if you sell tonight maybe you can buy the dip tomorrow

We have been scalping the QM contact between 68.4 and 68.175 but holding the cl short 
that does not suit everyones position so if you get your short on after you get a decent move in your direction mve stop to even to remove risk from the trade then you would intinsicaly have your free shot at the downside the dollar is up a bit the next support is 67 by my calculations if that doesnt hold look out we plan to cover the cl contact there that should offset any hits i may take on my overall position and perhaps let me discount shop a bit.
This panic and all sell offs in this quarter to me are bargain opps
I do not subscribe to the "w" or theory that we are  a bullish phase of a bear market every 
indicator is pointing to a recovery including Friday;s which were ignored.
There have been positive earnings and outlooks and manufacturing and just about everything 
is moving along nicely and we will again after this sell off climb the wall of worry again.
I have lived through more than one recession the recovery looks just like this.