Tuesday 31 December 2013

Pre-Market Brief

Good morning. Futures are a touch higher, sp +2pts, we're set to open around 1843. Metals are trying to bounce, Gold +$4, but this will be the worse year for the precious metals since the early 80s..pre-Madonna, when men were men..and women were not hanging naked on a wrecking ball.


sp'60min


Summary

Well, tis the final trading day of 2013.

I have very mixed feelings about this year, but I should probably leave that for a post later this evening. Suffice to say....one way or another..we made it through another year. For that alone, we all deserve prizes.
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*watch for the Chicago PMI number, that is due around 9.45am. If that comes in reasonable, 60/65 range, then market might use it as an excuse to rally into the 1850s..and hold that for a yearly close.
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I'll probably note it across the day..but sincerely.. good wishes for 2014

yours...
  the (disturbingly bullish) permabear doomster

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Video update from Biderman


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8.50am... Gold and Silver snap strongly to the downside.. Gold -$11, Silver -3.5%. 

Notable strength in DRYS, +2.5%.

The more I look at the market, the more I'm inclined to think Thurs/Friday are going to be strong upside..even to the 1870s.