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Fan fare, trumpets and three cheers emanated across the assorted TV Crews as the Dow printed 12,000. S&P Cash couldn’t get the 1300 print, however, running out of steam at 1299.74.

I think the next 2 months will be tell tale for these indexes. If all the money that is sitting on the sidelines gets bulled up, the ensuing rally could be sweet revenge for the buy and hold perma bulls.

I will re-iterate what I have been writing here for 6 months, There will be a cartoon, in a national media paper or magazine, with Obama riding the bull back from the March […]

Fan fare, trumpets and three cheers emanated across the assorted TV Crews as the Dow printed 12,000. S&P Cash couldn’t get the 1300 print, however, running out of steam at 1299.74.

I think the next 2 months will be tell tale for these indexes. If all the money that is sitting on the sidelines gets bulled up, the ensuing rally could be sweet revenge for the buy and hold perma bulls.

I will re-iterate what I have been writing here for 6 months, There will be a cartoon, in a national media paper or magazine, with Obama riding the bull back from the March […]

A daily chart of gold looks a little ugly for the bulls. It looks like a head and shoulders. I wouldn’t be in a hurry to try to buy gold. First buy would be 1297 Second buy I really like is 1265. I wrote about 2 months ago that I was going to scream if I saw one more cash for gold store open, or heard one more right wing nut on the AM dial talking about “US dollar is fiat money” or you have to own gold because the bible tells you too.

Its always been a good idea to have 10 percent of […]

This morning’s break in crude went right to the target of 86.34 with a low at 86.30.
Resting orders there covered all shorts.
It looks like we might have another flush, as the market focus shifts to the Fed.
Honestly? Do you really think the fed will raise rates? I am in the opinion they may do some sabre rattling, most likely as a kow Tow to our recent Chinese visitors.
After all they do own 11 percent of our debt..

However, when the smoke clears, we still have high unemployment, with very little real indication of inflation, when you take out energy and […]

Good Morning,
Dow cash is only 75 ticks away from that 12,000 print. Granted the national press won’t get their toes curled up until we settle above 11,000.. However, when Dow cash hits that print, I would want to initiate sell in Dow Futures.

As for Corn, Wheat and Beans…
Its looks like a relatively sleepy Monday.

CH looks like its made a double top at 6.66-6.67. Sell there the next time we head up there. Don’t risk more than 3-5 cents however.

Crude Oil continues to punish all the people who got long up above 91.00, 87.00 could be a short term bottom. Use […]

11,905 was today’s high tick in dow cash. 12,000 can’t be far behind. And the feeling is still bearish. This is shaping up to be a creeping rally. Those are the hardest to trade, because it takes time to get paid off for being on the “right” side of the market movement.

However, an 83 tick trading range is tough to navigate through. Ditto S&P 500… High tick today of 1291.21;can 1300 be far away, I don’t think so. However less than a ten handle range is tough to navigate through.

Corn and Beans look good, but honestly, they are both vulnerable to corrections. Wheat […]

Can anyone say “volatility”?? Just yesterday CH broke from a new 2-1/2 year high at 666 1/4. The low was 7.27 1/2. 7.30 was a 50% RT of the 7 week, 71 cent up move.
Apparently, that was enough to get buyers back in to the market.
More importantly, the Rumor Mill was out again that China was buying US corn. When that rumor came out, CH was at 6.32 we settled the day at 6.54 1/2.

What is most impressive is that Corn did this on its own. The dollar was up, crude oil was down 2 bucks, gold was down 20 bucks…. […]

Corn made a new 2-1/2 year high at 666 1/4. that marked a 1.46 rally from the November low, and a 71 cent rally from the January low.
Profit taking is in order.
If you’ve been reading my blog, I have been a cautious seller of new highs, ALWAYS entering a buy stop when entering a new short position.

I personally sold corn yesterday, when we started melting after the opening. I have moved my buy stop lower to ensure a profit.
Technically, 6.30 was 1/2 way back. I covered shorts there this morning. I want to cover more shorts at 6.22 which is […]

After the long weekend, it seems that we once again will have fresh buying interest in corn and beans. Demand rationing levels are seemingly above the horizon still.
March corn traded up to a new high at 6.62. I don’t think there will be real reaction until we get to 6.75, 6.85 and then 7.00.
Producers are sitting tight. No new selling seems to be showing up, for the time being.
May corn has rallied 1.44 from its Nov 23rd low. Bottom line, when the blow off top comes, it should set up for a spectacular pullback.
My sell signal will be major […]

China raised rates 50 pbs overnight. Also they let it be known that they will be limiting commodity purchases…

Quite frankly, this smells like a bluff to me.

China is becoming the little boy who cried wolf.

They are notorious now for releasing comments which are intended to produce bearish moves from the market.

It worked 2 or 3 times last year. However, people watched what happened after bearish news came from China. In fact, they used it to buy their beans cheaper.

Most of the trade has caught on now. I don’t think it will have the same impact this year.

This […]