kaltbaum premarket

Futures up decently as Draghi announcing blah blah blah print money…print money.

 

I have a few thoughts:

 

I expect the fake job’s number to be even faker this week and next month as we head into the election. Yes…I am a cynic and rightfully so. Somehow, we will get two good numbers entering the election. Remember, the job’s number is made up.

 

Major indices remain in tight handles. A move higher and above here is bullish…a move below is actually not necessarily that bearish but will call into question any higher prices. My guess is we move higher as we now enter Bernankeland. I do believe market was ready to roll over recently but the Bernanke put is at hand. I expect something out of him next week when they meet. They will play paper football, X-box and then announce some more money printing.

 

If market moves topside, expect many more set-ups as things are tight in here. SWI and HAIN just moved above the tightness and hoping to play.

 

GLD and SLV will open up today but have not provided another good entry.

 

 

Sitting this morning…expecting financials to maybe get going again. Look at what GS did yesterday.