2011-03-23

Buy-To-Open 50 contracts Copper May 2011 at 435.55 (2011-03-23, 4:48 am EST)

CNN is reporting Syria protests ignoring crack down by security forces and calling an end to the regime, and explosions in Tripoli cause unknown.  Yet US Crude May 2011 remains at 105.035 pratically unaffected for the last 24 hours.

I looked at Silver March 2011 currently 36.372 (2011-03-23, 5:04 am EST) and Gold March 2011 currently 1431.18 (2011-03-22, 5:04 am EST) and could not convince myself on the Thesis to go Long.  I think it may be time for some speculators to take some off the table.

Nikkei 225 currently at 9424.3 (2011-03-23, 5:08 am EST) I am itching to Short because of more negative news during the past 24 hours and seemingly deteriorating situation in reactor 2, but I fear the visible hand of government intervention and prefer not to be caught in a nasty gap-up.

I will let my Copper trade ride and will accumulate additional 10 contracts at 420 and 410 when I would expect it to rebound.  Upside is 450 where I plan to close out my position at a profit.

Stay Tuned.

Jeff
(2011-03-23, 5:14 am EST)