Air Bleeds from Hopium Clouds
by AL MARTIN (INSIDER INTELLIGENCE)
(9-23-12) We saw the Dec. Long Bond contract pickup in line with our previous week's suggestion. We have been trading the contract on the long side since 144.16, where we originally recommended buying the contract. The contract had a good close at 147.00. We believe that 148.00 now in the offing in the coming week's trade.
The Dec. Dollar contract -- holding support at 78.80, as the Euro, which we have been short from 1.3150, continues to move lower. We would expect the Euro to break under 1.29 in the coming week’s trade.
The Nov. Oil contract -- we are now shorting on moves above 93.50 and would continue to look at the 93.50/ 94.00 zone for fresh shorting opportunities
Dec. Gold -- one of the few contracts to break out late week, being turned back at the 1790 resistance level in Friday's trade. We were short sellers at 1790 on our standing orders, covering at 1775 late session. Although Gold has backed off, we would expect the Gold to re-assault the 1790 level in the coming week's trade.
Other Top Stories
Go Short, Young Man! by AL MARTIN (AL MARTIN RAW.COM)
Civil Unrest Sweeps the Planet by AL MARTIN (AL MARTIN RAW.COM)
The Free Ride in Gold Is Now Over. What Next? by AL MARTIN (INSIDER INTELLIGENCE.COM)
Financial Juggernaut? Or Not? by AL MARTIN (AL MARTIN RAW.COM)
Big Trouble in Big Bad China by AL MARTIN (AL MARTIN RAW.COM)
US Treasuries Gain, As Global Economy Quakes by AL MARTIN (INSIDER INTELLIGENCE.COM)