First Call has the Dow up 125, following on a broad gain in Europe and another day of losses in the Asian markets. The whole commodity complex and PM's are higher this morning, as is the Euro. The Dollar is off, trading under 76 at 75.91. The U.S. long Bond is off sharply, down 1.5 points, at 4.417%.
After all is resolved with the troubles in Japan, I suspect the problem remaining for this country is going to be the collapse of the U.S. Dollar, the accelerating inflation levels, and an economy that can't get off the Fed POMO teat.
I will be out until around 1:00pm today. I am looking for a re-entry point for another series of short trades, somewhere around the 1300 level, depending of course on Momentum Change indicators.. I doubt the indicators can change quickly enough to flip back to Buy with out a retest of the lows
Bill
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