A Pre-valentine's Day Rally

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A Pre-valentine's Day Rally

Posted on 02/14/2007 07:20:00 | Link | Post Comment

If you thought MODAR was caught napping ahead of yesterday's dramatic turnaround on Wall St you'd have been 180 Degrees wrong, as MODAR launched into one of its biggest and broadest buying sprees ever nailing a 10 X Nasdaq Futures right from the opening bell and finishing the day with an unprecedented 30 lots in all spread across the principal Stock Index Futures being the S&P 500, Nasdaq and Dow Jones. And overnight we again nailed the Japanese Yen with a huge position and captured some of Gold's upside also at a 10 times normal. The extremely sharp rebound on Wall Street means that much of the developing technical negatives that started to compound over the past few days were in large part, but not fully negated yesterday, however the fact that the Transports actually managed to set new all time record highs along with JB Hunt Trucking JBHT also setting a new all time record high, certainly bodes well for these markets that seem to have been suddenly re-invigorated and refreshed by the correction of the past few days... Any time the Transportations are leading the markets, it doesn't get much better than that and even though we had a mini Zenith come out of nowhere late last week its exact opposite: The sudden and decisive rally that also comes out of nowhere, perhaps on the back of a rumored buyout of Alcoa AA, was enough to light a fire under the market, enough to have Jose Feliciano crooning a theme of a pre-Valentine's Day work-up to one of the best days on Wall Street in some time and a welcome one a that. Meanwhile, not to be left out Gold, Silver, Palladium and Copper all rose while Platinum soared overnight, widening Gold's discount to Platinum, normally a very bullish development for Gold and Silver's longer term outlook. Almost all currencies also rose in a very impressive way, that may be signaling a possible runaway bull move soon in the currencies or some kind of steeper demise of the Dollar. We could consolidate for a while, but these trends look to be strengthening ahead of what does appear, will be some kind of be inevitable move sometime fairly soon. At the same time US Grain markets also deserve a mention, exhibiting almost unheard of strength for this time of year as they continue to soar near 21st Century highs, that could have us buying Cotton this morning along with the exotics such as Coffee and Sugar, that are also exhibiting pre-turnaround tendencies. It's definitely been an interesting week thus far and a nice continuation of this rally into Presidents Day would be just the ticket. Some verve to the rally may also have come from the news of a dramatic breakthrough at the six party disarmament negotiations in Beijing. Perhaps our suggestion that a Kim Jong Il Stock Market might not be far off, waxes closer. Trade Well From the Desk of Savant

1 Comments:

: Managed Hosting, Colocation and Data Center Services by victoryushchenkonashpresudent ...; posted by Robert @ 07/27/2007 19:44PM

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