Monday, January 4, 2010

First Day

The commodities are very strong in pre-market trading and the dollar is weakening, especially against the commodity currencies.  A lot of this strength is attributable to funds allocating money into commodities.  It seems like a lot of the selling in commodities in December must have been liquidation / tax related.  As history foretold, equity futures are higher.  I will likely be getting out of my overnight holdings by the open. I am reluctant to short the open due to institutional money flows and positive seasonality.  ISM Index number comes out at 10:00 AM.  I expect it to beat expectations.

3 comments:

Anonymous said...

Anotha platinum hit dawg. G'z up, shortz down.

Anonymous said...

Wow, this is some action we are having today.

Did you hold on?

Market Owl said...

I closed out everything by the open.