(8-24-14) In late week trade we saw the Sep. Spoos were able to get above 1990 for the first time.
The close Friday, wherein the Seps closed above the cash, would indicate a good opening Sunday night. With nothing fresh on the geo-political front, look for a move up into the 1994 area in Monday's trade.
We continue to trade the Sep. Long Bonds from the long side on dips. Once again we were buyers at 140 late Thursday and were able to take a half a point out of them in Friday’s trade.
It's unusual for Spoos and Bonds to be moving higher. One has to be wrong. Traditionally it is the Spoos. Time of season would also indicate the Spoos reaching a top.
The Oct. Oil contract - we had sold again on the turn back at 94.00 in Thursday’s action. We continue to look for the now Oct. Oil to come down for a test of 92.00 in the coming week’s trade -- assuming no Uncle Vlad surprises.
Our short Dec. Gold that we had shorted out at 1307.50 -- we covered on our standing order at 1277.