Its another Manic Monday

Posted by Investing Freak on June 06, 2010
Market Analysis

Without going into many links I will summarize what I read. BP can’t stop leak still, Hungary is the next Greece and this time it might not be bailed out since the G20 meeting was all talk about Fiscal Policy (bailouts) are not sustainable and austerity measures are the way to go. to top it all Iran is not willing to take the next Gaza aid ship to its destination by providing naval escort (Read: Israel can’t attack without starting a war)

Here is an Update of the InvestingFreak Special SPX chart the Red Line (250MA is broken for now so lets see if it holds broken and turns into resistance. to the downside i see 1040 and to the upside a retest of 1104 at least is possible although not all this action might come monday. (Click Image to Enlarge)

So there you have it. Fun week ahead but lets all make money whichever way it goes.
Also visitors are always welcomed and encourage to comment and participate in daily market discussions, your posts wont be deleted or censored unless they contain inappropriate content and links.

S&P futures are down 9 points since the open.  On top of the page in the “Economic Calendar” tab you have easy access to the daily calendar happenings and live commodity futures.

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9 Comments to Its another Manic Monday

  • futures heading south. I wasnt lucky enough to get some puts at open and certainly am not chasing.

  • Goldman EURUSD Update: “Reasonable Target Is 2006 Cycle Low Of 1.1640”

    hmm is this why market took another leg lower?

  • Maybe I missed something but at 10:10 Gold began liftoff from 1216 to 1234 at 11:10

    thats almost $20 move in 1 hour.

  • MOPN is very interesting today. Made some nice $ in the morning and now it is going back up again (now at .29). Have to keep this one as day trading. Good to play both sides.

  • made a tiny long position play for VERY short term. short side is very risky at the moment. doesnt mean I won’t join it if conditions are right.

  • That mystery crop thingy is scary. All corn is hybrid now and won’t grow on its own supposedly. The weeds I can do without.

  • K,

    I posted about UNG. The breakout could be legit. I got in earlier but I believe this is going to be a long-term play. I can’t believe it has gone so low.