What do you know, the old US Greenback is actually BID this morning as all the paper FIAT of the world apparently looks uglier than our deleveraging FIAT currency at this point… I view this as a positive because even though I am a silver and gold bull (both are higher BTW) I am a patriot first and I know that to have a sound economy we must have sound money! Oil is off a bit this morning while the agricultural commodities look to open slightly lower….
Stock futures are a tiny bit lower this AM but they are back from much lower levels earlier this mornings… No resolution on the debt sham/charade/distraction/catastrophe/psyop/scare tactic today, and it looks as though the brainwashed American sheeple are now begging for our leaders to up the debt ceiling and send our country deeper into the hock of Dr. Bernankenstein and his sweaty print finger.
the Mini Nas 100 is down 3, the russell is down .70 and the Mini SPY is down 1… very sleepy trading today…
The Buck is actually up .18 (I know I scratched my eyes too) the Franc and the Yen are also higher its just that the Pound and the Euro are lower against the Federal Reserve Fiat today.
Oil is down almost one percent this morning with bonds roughly unchanged. Wheat and beans look flat with corn slightly lower….
Amazon looks to open at $226 which seems to me like a good short entry if the stock market holds the morning losses today with a $231 stop loss in place. I will also be looking to scalp a quick BIDU and possibly a SINA short with a tight stop just for the rally fade trade this morning… These trades are more speculative and for me are used for a “day hedge” against some longs I own here…
With oil offered and with inventories coming in much higher than expected, I may actually add some COP exposure via selling the January 2012 $70 put options here, but nothing is set in stone… With the dollar putting in some type of short to possibly intermediate term low, I will be scaling back metals and commodities today if only to take profits and play “wait and see” with the lowered Dolla Dolla bill….