Chris Robinson

China downgrades US debt? We are looking at an average guess of 9.2 for unemployment tomorrow. Currency wars are on, as Japan sells yen against the US dollar.
Vladimir Putin, the Soviet Union’s Godfather, calls the USA “parasites on the world economy”? really? where was he when Russia defaulted during the Clinton administration? Does anyone remember Long Term Capital Management??

So, looking at Dow futures, there is support at 11,451, which was the March 2011 low. That level also corresponds to old resistance going back to April of 2010. 10,916 was the December low from just 9 months ago.

Market’s will push until they find […]

China downgrades US debt? We are looking at an average guess of 9.2 for unemployment tomorrow. Currency wars are on, as Japan sells yen against the US dollar.
Vladimir Putin, the Soviet Union’s Godfather, calls the USA “parasites on the world economy”? really? where was he when Russia defaulted during the Clinton administration? Does anyone remember Long Term Capital Management??

So, looking at Dow futures, there is support at 11,451, which was the March 2011 low. That level also corresponds to old resistance going back to April of 2010. 10,916 was the December low from just 9 months ago.

Market’s will push until they find […]

Its only a 1,000 point break lower in 9 trading days. How bad could it be? Dow jones cash was trading at 12,751. Today’s low was 11,700. HMMM.

There are two trades here potentially. 1) sell the 50 % pull back if we rally up to 12,225 or 2) sell the first rally up to the old bull trend line which comea in at 12,100.

I like selling both. So, that being said, I think you get a long position here. Try to catch it both ways.

1,000 pts in 9 trading days demands a bounce.

Remember, August generally reeks like 3 day old […]

Dow Cash Support at 11,625, 11,240 and then 10850.

Each of these cash levels should be bought on an initial break.

11,240 is, in my opinion, a good short term downside target. That would require a sell off of another 600 points from today’s low. I imagine we will pause at 11,625 first though.

Either way, its August. Europe is going on vacation. For the next 3 weeks, the trade will be stupidly volatile. CNBC “analysts” will no doubt be shopping for razor blades and slip knots, preparing for the end of the world here at some point.

Bottom line, last July 2010 we traded […]

Dow Futures has a trend line starting in the March 2009 low, hitting the July 2010 low at 9506 and then this week’s low at 11.941. Support below comes in at 11,600, 11,200 and then 10,800.

The Grains look tired and vulnerable to a correction.
That is all.
CER

Early on last night the dow futures were up close to 200.. high tick at 12,280… we are currently 120 off those highs.

I’d be inclined to sell 12,200 here. If Friday’s low at 12,029 fails then we could see 11,800. That, honestly, would not surprise me.

I’d stay long gold above 1600.00

In the grains, we should have some volatile trade.

Bottom line, watch the Dow. Everyone who got long on the “good news” of no default, could end up w/ egg on their face at 4PM.

CER

Bond’s go to a 7 month high picking up 2 handles plus, US Dollar makes a huge outside day down, suggesting continued sell pressure being loaded up for next week,

US bonds rally. Ironically, the item being considered for default rallies sharply.
This morning I was very bearish stocks.

Turns out I was the good fade for today. However, I did note that it was important for 12,000 to hold for the cash dow and the futures.

For now I still want to be long the dow on this break. I am going home long a small position over the weekend. I have sell stops […]

My last support just was eviscerated like a knife through warm butter. 12,142. If 12,000 doesn’t hold then we run the risk of trading down to 11,770 and then 11,500 and finally our March low at 11,450.

I still think we might find support. I want to fade the panic selling. Sometimes trying to catch a bottom sometimes can be like trying to catch a falling knife.

Today is the last trading day of the month. Its a Friday. It could be ugly.

I anticipate a risk off day. GDP was less than stellar. It looks like the congress will not fail to disappoint with […]

Buy Dow Futures here at 12,258.
Below buy as 12,143.
Use your sell stops.
CER

Gold looks bound and determined to run up to 1650 or 1700. At this point, we should start moving 50 bucks a chunk. A ten percent move now gets us to 1760 to the upside. Ten percent to the down side gets us to 1440. 1600 saw us break twice down to 1583. We were able to scalp some decent money out of those shorts.

Never one to get married to a position, With this action, I like buying dips against 1600. Again, if you get long, put a stop in below in case this market flips and melts lower.
You don’t’ want to […]