Monday's Opening Doesn't Look Good For The Bulls

June 4th, 2012
in Gary's blogging

Premarket Commentary For 06-04-2012

The premarket values are not all that bad as the SP500 was as low as 1262 and has sense risen to 1277. The DOW is down 4 points and the NASDAQ is up 7. Last night on the various news outlets EVERYONE was spelling out SERIOUS doom and gloom as if they really knew what was happening. The markets will open flat with a positive bias, but will not stay there as pointed out in my previous article. Sit on your hands this morning and see what Mr. Market has in store for us as that is the best conservative stance you can have. If you went short 4 sessions ago like I did, hold your position and do not increase your holdings.

The European markets are lower today as French and German shares fall slightly. The French CAC 40 is off 0.84% while the German DAX is down 0.73%. The FTSE 100 in London is closed. The WTI oil is at 82.22 and Brent is at 97.33 climbing from a morning low of 97.65. Gold is trading in the 1620 area and Dr. Copper was lower at 3.24 earlier and has moved up to 3.30 falling steadily from 3.85 6 weeks ago.

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Written by Gary

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