Thursday Morning

Mr Market is trying to work higher this morning, with the Dow at 11012, up 0.23%, and the SPX at 1299.11, up 0.20%.  The rest of the major indexes are also higher.  Oil is up .18 at 87.15, Gold up 1.10 at 1334.1 and Silver up .49 at 27.61.  The rest of the commodity complex is mixed.  The Euro is up a few at 1.373 and the Dollar is down at 77.75.  The 10 year Note is down .25 at 3.344% and the long Bond is down at 4.61%

The BS, er I mean the BLS report is out this morning, printing at 454,000 new jobless applications, against expectations of 405,000.  Non SA prints at 482,399, with 161.913 people dropping off the extended list.  The FCIC report on the Financial Crises is due out today, but some of the interesting points are already leaked.  The 500 page report discloses, from ZeroHedge.com "that all of Wall Street is one big fat fraud, populated by criminals, who never go to jail, and whose settlement arrangements with the SEC is at most 1/50th of the illegally obtained profits."

 New Home Sales spiked 17.5% in December, against expectations of 3.5%.  All regions of the country were flat, with the exception of the West, where sales were up 70% at 7,000 units.  So, an increase of 4,000 new home sales drove a national increase of 17.5%    Don't you just love the guy behind the curtain?


Mr Market is at a very critical point here.. a break of the SPX under 1290 will likely trigger the decline our momentum Change indicators are looking for, while a close above 1303 will likely trigger us getting stopped out of our levered short positions.

Best To Your Trading!

Bill