Mrs. Ferguson has given me the day off. Before I spend it on my butt watching football, I thought I would finally finish my latest masterpiece. Alert The Academy!
In this short film, our antagonist explains why the J P Morgue does what it does. Its a must -see for all who wonder if and/or why the Evil Empire acts in the way they do.
I'll check in later, after the Pitt/NYJ game, with an update on the evening trading. Until then, enjoy...
11:00 pm EST UPDATE:
A very nice rally this evening which, to me, is being led by copper. Ole DrC is back above the 434 level at 435.55. The March USDX is banging up against former support at 78.45 as the old adage is "failed support becomes resistance". IF copper can hold above 434 tomorrow and IF it can further rally back above 438, we can begin to feel certain that the correction is over and that we will NOT see 1320 and 26.50-65. There is every reason to be optimistic as both soyas and wheat are up about 10 cents and crude is up, too. In crude, a move back above 90.25 would be great. Couple that with copper back above 438 and we'll be cookin. So far, so good.
Thanks to everyone who enjoyed the "movie" today. This is going to be a very interesting week. Get some rest. More in the a.m. Turd out.