Monday, September 22, 2008

DIA 111.30, down 2.27

The dollar is tumbling today vs the EuroCurrency and the Yen.
Gold and silver are moving up strongly.
Bond prices hit 8 pts below their peak last WEEK!
Now that is a "bear market in a week" for bonds (technically a 10% drop is a bear market for bonds), but it is close.
The EuroCurrency is, in fact, just bouncing so far from its decline from 160 down to 138. It surpassed the 1/3 retracement level and the popular .382 retracement used by many traders, but is holding below a 1/2 retracement.
Crude Oil is bouncing up near $110, way up from its low near $90 on the Nov contract last week.
That is a 20% rally in crude oil in just a week. Amazing too.

These are volatile times.

I hope you are finding that these "intraday" entries and exits are of interest.

Best regards.

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