Wednesday, June 3, 2009

Thursday Trading Plan (June 04, 2009)

I am making this post earlier because I know what I want....lol.

First thing in the morning, watch the dollar. There will be an ECB announcement which should clear any doubts on the Dollar.

We could get a gap down tomorrow, 913 could act as support. Perhaps a bounce will happen from there. If we rally from where we are now....I suspect we won't get far if we don't get above 949....Then we are in for some choppy trading session.



JPM could be setting up for a decent buy.


A lot that is to happen in the Gold market depends on the dollar. I think you should get confirmation from the dollar and gold futures before you proceed with GDX. The last minute buying could be from over enthusiastic buyers or short covering.


Whether the rally in Agriculture Commodities continues also depends on the dollar..IMHO

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