Monday was another long boring day. However, the market internals were again positive. Advance/declines were 1700/1200 and the volume 5/3, and so the markets seem to be telling us that there is still more buying that has now started to carefully buy some of the secondary stocks.
The gold had a small range in recent memory. We are keeping the order for the GLD 9/126.50 calls for Tuesday. The longer it stays near the 1320-1330 the better it looks.
The Oil had a good day closing about 2/3 up on the range and positive on the days.
If energy and financials continue to make headway that will pull the market higher. If the financials can catch better bids, that would be positive for the market.
The only thing that gives me pause is the VIX. There is such a steadily declining price in the futures is showing me a market that contains almost no concern for these levels in the indexes. The VIX show complacency is near all-time highs. This is never a good thing for the longs….CAM
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