Monday, June 1, 2009

Bipolar Monday: Turnaround Tue?

Market UP big
VIX UP big

Dollar down yet again
Gold down, even more

FAZ closes at the same price that it opened the pre-market on a +221 day.

Wild market, to say the least

Oh, Grains continue walking all over gold, long-term fyi.

Now (+14%)
GLD: 95.77
DBA: 28.77

March 20th
GLD: 94.35
DBA: 25.01

As far as tomorrow, turn-a-round Tue has been a very strong trend for a good while. Also the vix/spx divergence leads to a higher ratio of a down following day. So with that being dealt to us already, I do feel pretty strongly that Tue is a red day. After that, gotta play it by ear.

For some good, easy to follow insight of VIX + SPX up days, check out Cobra's Market View, and Vix and More. (on my blogroll to the right). I believe they both wrote about it tonight as well.

Oh, im not calling a top. But i will say this, financials did not look that good here today, nor have they since the GS program buying savior on Friday.

FAZ/SKF are as of now back to THE BEST daytrading vehicles to BUY for intra-day daytrades.
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