1.05.09
Construction and auto sales at 10. Dollar is stronger on the idea that the expected stimulus package will gain traction at some point and pull the economy away from the jaws of depression; at least that’s the current, commonly received interpretation. The key question of the day is: was Friday’s action real? Portentous of the [...]

1.02.09
Welcomes to the New Year. There are still a sufficient number of people either physically or mentally absent to make for a light, possibly violent trading day. There’s the Institute for Supply Management out at 10. The dollar is stronger on the first day of the year while crude is lower as that short squeeze [...]

12.31.08
Happy New Year. A tough one for many. Just initial claims today. Once again, trading volumes are very low and in addition to New Years Eve, snow and high winds (up to 60 mph) are in the forecast for NYC so many will eye the exits. Price action can be exaggerated because of this thining [...]

—————————————–
12.30.08
Fairly light eco days with Chicago area purchasing managers at 9:45 and Consumer Confidence at 10.  GMAC gets a 6 billion dollar lifeline and designation as a bank holding company. Trading volumes remain thin as year end approaches. Best example of that was the trading action in the Yen yesterday just before the 5pm close [...]

Top Day Recommendations
12.26.08
Another open day in terms of economic releases. Boxing Day has Europe basically closed; Canada too.  Trading ranges should dominate without the introduction of a third element.

Current views, speculations and suggestions
Mar Yen: positive with support at 110.00
Mar Swiss: positive with support at 92.10
Mar EC:  positive and above daily resistance of  140.50
Mar Canadian: [...]

Top Day Recommendations
12.23.08
Final GDP, the deflator (or implied rate of inflation) are out at 8:30 while Existing and New Home sales out at 10 as is U of Michigan Consumer confidence at 10.  Volume is light. Trading ranges should be the order of the day the next two sessions ahead of the holiday.

Current views, speculations [...]

Top Day Recommendations
12.22.08
Another open day on the eco calendar. China cuts interest rates, again. Super Saturday was derailed by storms in the Northeast and the Midwest. Volumes should be light after today.  Toyota has first loss in decades. Big 3 start their 100 day sprint to get creditors to accept equity for debt.

Current views, speculations [...]

Top Day Recommendations
12.19.08
An open day on the eco calendar. It is rumored that the White House will come to the aid of the auto industry today. The President is due to talk later this morning. Car demand at its lowest level in 50 years. January crude expires today and the spreads continue to widen. Profit [...]

Top Day Recommendations
12.17.08
The Fed throws the kitchen sink at the market yesterday by lowering the overnight lending rate to a zone between 0% and .25%. This takes the yield on the 10 year to Eisenhower Administration levels. It’s obvious that the Fed is attempting to avoid deflation at all costs. Inflation is comparatively easy to [...]

Top Day Recommendations
12.16.08
Federal Open Market Committee meeting today with a communiqué due at 2:15 NY time. Don’t expect a lot until then. There’s also the possibility of a large move on FOMC days, either because of the wording of the communiqué, the guidance it provides or the relief that the event is over so tread [...]