Short Rallies in the Spoos, Contagion Effect Looms
by AL MARTIN (INSIDER INTELLIGENCE.COM)
(1-26-14) We put out an emergency selling recommendation Thursday night, when our standing sell orders in the March Spoos were filled at 1825. We covered M. O. C. Friday and were filled at 1782, Spoos having now broken 50-day moving average. Next stop down â 1760 to test the 100-day moving average.
We would be looking to sell any rallies in the Spoos Friday. Shorts have not covered yet and we have seen there's no end of short covering in Spoos, but any short covering in the Spoos to take them back for a test of 1800 should be shorted.
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* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC. He is considered to be a source of independent analysis for financially sophisticated and market savvy investors, as well as subscribers who want to understand the behind the scenes working of markets worldwide.
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