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Written by Steve Meyers   
Monday, 08 February 2010 13:57

Nothing exciting today. We ran up to resistance and pulled back. Breadth of the market and volume never got rolling. If we sell off this p.m. then we could get that last low before a recovery into option expiration week. Keep your eye on euro. it rallied and everything rallied, it pulled back and everything pulled back.  It's nothing sophisticated.

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Ron Rebner |98.27.191.xxx |2010-02-08 14:18:59
I have a free week with Elliot Wave FX. For what it is worth, they say the EURO is in a mini upward correction vs the U.S. $ but is expected to fall to the 131 level. At 1:37 pm they said the "It is possible a bearish triangle just ended" and the correction may be complete and the EURO is headed lower. Note the word possible.
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SteveM |208.84.68.xxx |2010-02-08 14:25:22
As I mentioned, it's all about the Euro ($ carry trade unwound) If we fall to 131....then do not be long anything...and maybe out of short treasuries.
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The statements, opinions and analyses presented in the articles and newsletters on this website are provided as a general information and education service only. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. Neither GrainBelt Commodities, LLC. nor Steven R. Meyers shall be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.