Today, the Market appears set to open higher. The levels we are watching in the SPY are 109.80(res) and 108.20(sup). Below 108.20, the next support level is 107.60. Above 109.80, the next resistance level is 110.20.
Our best AM Idea for today, which we highlighted in our AM Meeting is to buy X close to 47.45. Tgt: 51.00.
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2 Comments on “SMB Morning Rundown – February 2, 2010”
I like your X idea this morning. I also think you can look to revisit the gold play. GG, AUY, and ABX have sold off the most since the Dec ’09 highs. The GLD looks to be the safer play with some support around the 106 level. If I’m right and the rally continues you can profit more int he miners. Looks like NEM has been the best relative performer of the group.
I like your X idea this morning. I also think you can look to revisit the gold play. GG, AUY, and ABX have sold off the most since the Dec ’09 highs. The GLD looks to be the safer play with some support around the 106 level. If I’m right and the rally continues you can profit more int he miners. Looks like NEM has been the best relative performer of the group.