Thank You, Veterans!

It is nice to have a 3 day Holiday.. although it is even better when these National Holidays fall on a Friday so that we can enjoy a 4 day week end.... it is still nice to take a break.  I've always thought that the July 4th fireworks celebration was just as appropriate for Memorial Day as it was for Independence Day.  Maybe even more so as it could reinforce the actual drama experienced by our War Veterans, whether it be a war that had national participation, support and shared sacrifice, or ones today that are being fought by a professional Military, with little or no National participation, Support or Shared Sacrifice.  Regardless, it is important to remember their experiences, even if it is only to privately review what this National Holiday means.

Mr Market opened a little higher, after being marginally higher over night.  As this is written, the Dow is up 68 and the SPX is up 8.  The rest of the major indexes are nominally higher also.  Oil is trading at 100.45, up 22 ticks and the Brent is trading higher at 115.36  Gold and Silver and all the metals are higher, with Gold at 1532.90,. Silver at 37.95 and Copper at 4.17.  The food commodities are all higher except coffee, which is taking a slight break from its relentless advance.

The Euro is higher, up nearly 1% at 1.425 while the Dollar is taking it on the chin, down over 1 Cent in the last couple of days, trading at just over 75 at 75.04.  Yet evidence is that the risk trade is under pressure as the flight to the perceived quality and safe haven of  U.S. debt (ya, I know....but consider the alternatives and there are just not enough Swiss Francs for all those nervous traders).  The Note is at 3.06%, getting closer to the magical 3% and the Bond is at 4.236%

Note much in the news this morning, however the Realtors spin machine reports that pending sales are down unexpectedly, missing the anticipated small decline of 1% and printing off 11.6%.  After the revised print last month of plus 3%.  Also, the Michigan Confidence indicator printed 74.3 vs expectations at 72.4.  Apparently, the lower prices at the gas pump got everybody focused on how good the economy is getting.

All of the recommended trades have now been stopped out with gains, with the single exception of the FXE, which lost $0.19.  There are a couple of new buy signals in the indexes followed, I think all in the commodity complex.  No changes in the Major Sell signal, which was first generated on 5/19

Have a great weekend, and Best To Your Trading!

Bill