Morning update:
Oil drops to 105, holding overnight lows for NQ, but small caps are breaking down. The bond bid has not stalled. although we are slightly off the highs. Not much hope yet for a turnaround other than the fact that we are very stretched and in need of some kind or corrective bounce. The short side is still the easy scalp, but I would be cautious after the 1PM turn.
Oil drops to 105, holding overnight lows for NQ, but small caps are breaking down. The bond bid has not stalled. although we are slightly off the highs. Not much hope yet for a turnaround other than the fact that we are very stretched and in need of some kind or corrective bounce. The short side is still the easy scalp, but I would be cautious after the 1PM turn.
This entry was posted
on Friday, September 05, 2008 at 9/05/2008 10:39:00 AM.
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