Mon - Existing Home Sales
Tues - PPI & Consumer Confidence
Wed - Retail Chain Index, Durable Goods & New Home Sales
Thurs - Jobless Claims, GDP & Big Ben testifies (200+ downday?)
Fri - Personal Income, Consumer Spending & Core PCE Price Index
The perfect start would be a rise in futures allowing us to add back the SKF we booked last week even lower than the $108's. Once Tuesday morn's numbers are released, watch out. Bailout plan or not, this is a mess. So they give $15 billion now so the AAA rating stays so that they can continue to sell off the trillion dollar mess for the time being until the insurers eventually fail anyways. Don't believe the hype.
As for our miners, you know how we work here. Until we see otherwise, follow the markets not the POG. With this up & down environment, booking even 4 or 5 % is a victory. If they decouple, no problem, just get back in. People make it seem like they will ban you from putting in a buy order if the train leaves? Believe me, the weekly 5% bookings this past year or so EASILY covers what you could ever imagine losing while trying to catch the train. NOT EVEN CLOSE. The person who isn't booking is the one who is losing out. I've been preaching this for over a year and it still hold true.
Hope everyone's having a great weekend.
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