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Stock indexes remain choppy during this Friday’s Trade…Crude Oil is lower on the unemployment news with US running at 10.2 percent….Every analyst on TV has made the connection that with unemployment so high, there might be decreased demand at the pump.

The only people who don’t seem to pay any heed to this fact are the gasoline wholesalers/ or the owners of our friendly neighborhood Gas Station of Choice.. A two dollar drop today with the crude trading around 77 and change, or basically 5 dollars a barrel less than the Oct 21st high, has yet to show up here at the pump in […]

On the number this morning, the Dow Index Futures DJZ… broke from 9986 down to 9907 sharply, on the first minute after the number…At that point DJZ drifted lower to its day session low so far at 9874, then proceeded to do a classic F/U rally to all the traders who got short in the hole on the bearish fundamental numbers… In the long run, it may be right to be short stocks, but in its typical fashion, the market punished the herd…rallying from 9874 all the way back up to a day trading high of 1007…125 point swing trading range…Unfortunately, the market always breaks […]

Estimates for jobless claims had expected 175K, we saw 190 instead..Unemployment has now topped 10 percent at 10.2… With the News Media heralding “The worst unemployment since 1983″… Nothing like bad news to lead off a news cycle…Again, we see the psychological significance of the round number…In response,the markets are basically sideways to slightly lower.

On a different note, look at the 1.50 level in the Euro/Dollar trade. If the Euro can substantially pop above the 1.50 level on the charts, it bodes for further strengthening of the Euro and and equal weakening of the US Dollar from its current 76 level to a target […]

We had some volatility last night… January Beans (SF) traded up to the 984-975 then could not hold on to those gains, settling 14 cents lower from those highs at the 970 area…Trade today may be looking for a technical short-term bounce, after so much selling has been absorbed over this week.

That being said, there is certainly more room on the charts for down-ward price action in the Beans, as we continue the harvest pressure…Ditto for Corn. December Corn (CZ) remains caught in the same chart patterns as the beans, so look for continued bounce between the highs and lows of its recent […]

Tomorrow we will get October Unemployment data, expectations are for 175K…The number comes out at 730 CST…
Today we had a short covering rally, recapturing much of yesterday’s end of day losses, with the Dow cash flirting with the 10000 mark… For a number that some traders profess is meaningless, it certainly gets a hell of a lot of attention.That in itself is one reason it attracts a lot of trade…Buyers and sellers congregate around round numbers in all markets… be it ten dollar beans, 10000 in the Dow, 1100 in the S&P, I can remember 5000 being close to the all time high in […]

Today we had revised numbers for first time filers last month.. The number was revised down 20,000 from 532 to 511… A sign of a healthy economy is under 400K every month…
Some analysts are heralding this declining rate of decline as the early sign the lay-offs may be coming to an end…Expected number tomorrow morning at 730 is for
175K…A number above or below will be a key to trade from…

Currently, we are working back towards yesterday’s high before the afternoon melt in the stock indexes…

Gold continues to hover around 1100, while grains are seeing lower prices with better dry weather […]

Today we had revised numbers for first time filers last month.. The number was revised down 20,000 from 532 to 511… A sign of a healthy economy is under 400K every month…
Some analysts are heralding this declining rate of decline as the early sign the lay-offs may be coming to an end…Expected number tomorrow morning at 730 is for
175K…A number above or below will be a key to trade from…

Currently, we are working back towards yesterday’s high before the afternoon melt in the stock indexes…

Gold continues to hover around 1100, while grains are seeing lower prices with better dry weather […]

The Stock indexes rallied all morning, but once 2:15 EST rolled around, we saw the indexes melt lower, still ending the day up, but giving back a major portion of their earlier gains..The DJZ had seen a trading high at 9887, but fell back and settled 100 points off that high at a final mark of 9781…SPZ500 had a high print at 1058, but broke 11 handles from that high, to settle at the 1047 level.. Both indexes still have a ways to go to challenge their Oct 21st High prints, with DJZ posting a high at 1060, and SPZ posting a high at 1098. […]

Fed minutes are due out today at 2:15 EST… Traders and other nervous Nellie’s will be looking for the Fed telegraphing its plans to hold or start a round(s) of tightening…Seriously people, my advice is to go have a coffee break between 2 and 2:30, let the dust settle.

All that will happen, I imagine, will be a brief bit of volatility like a rubber band, where at most we will explore the trading ranges of the day..Perhaps the yield curve futures will have a bounce or two, but most of what the Fed is planning has been priced in at this time…Honestly, with interest […]

Today over all was very bullish as the index funds were heavy buyers of grains, in sympathy with the massive 30 dollar rally in Gold. That Rally of Gold was sparked by India taking delivery of 6.7Billion Dollars worth of gold, or about 1/2 of the gold which the IMF had been offering for sale..

The IMF is in the process of raising capital by liquidating a chunk of their precious metals..Be that as it may, we traded up to 1085 and change…The next stop for gold will be 1100, and then each 100dollar milestone will most likely be called off on a daily basis […]