Monday, June 29, 2009

Markets 6/29/09


With these low volumes we are rising with little demand. It probably does not matter. On CNBC today there was an open discussion of how these markets are manipulated by the government. I did not hear anyone disagreeing or saying that that was outrageous. We are testing the underbelly of the first two weeks in June and with this tiny volume in a normal market I would say that going through this resistance is not the way to bet. On a few thousand contracts we can do so in Asia tonight guaranteeing a wonderful trading quarter for whomever. Sadly, that is the way to bet.