Monday, June 11, 2007

pre market

The markets in Asia are bullish and so is Europe.

Blackstone Group is expected to go public as early as this month. Might this be the market top ? I'm subscribing to the IPO. Shares will likely double the same day.

The Yen is gaining this morning. There is a strong inverse correlation between the Yen and the movement of US equities. A stronger Yen may lead to market weakness today.

Gas prices across the nation posted their first decline since January. While this is welcome news for the consumer, I believe the damage has already been done. I don't foresee an increase in consumer spending until gas prices pull back atleast 15-20%.

Pre market futures are indicating a lower market open.

Things to look for this week
  • A rebound in Gold, Silver and Oil prices. Rising liquidity is only going to push commodity prices up further.
  • Watch the movement of the USD. It has been strengthening as of late and it will be interesting to see what happens next.
  • With option expiration on Friday volatility will likely increase.

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