Today, the Market appears set to open higher. The levels we are watching in the SPY are 110.50 (sup) and 111.50 (res). Above 111.50, the next resistance level is 112.25. Below 110.50, the next support level is 110.20.
Our best AM Idea for today, which we highlighted in our AM Meeting is to short ABX at 41.50. This would be the forth consecutative day that this level has worked. If ABX gets below 40.00, we could see further downside to 37.50. However, if ABX starts holding above 41.60, we could see a move back up to 43.00.
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6 Comments on “SMB Morning Rundown for December 11, 2009”
You havent mentioned anything about how close abx follows gold prices and abx price levels mean nothing if gold moves one way or another sharply enough. Can I get a trial to check out your morning meeting?
You havent mentioned anything about how close abx follows gold prices and abx price levels mean nothing if gold moves one way or another sharply enough. Can I get a trial to check out your morning meeting?
Ahhh… a continued nap on the markets. Yet, there’s a few great stocks still. Anyone see this Santa some have mentioned around this time of year?
Ahhh… a continued nap on the markets. Yet, there’s a few great stocks still. Anyone see this Santa some have mentioned around this time of year?
ever since you guys started putting your morning idea on the blog instead of on the twitter feed it seems like your blog server gets swamped and I usually can’t access it until some time after the open
ABX 41.4 – 5 short today amazing – wasn’t thinking to look for this level again today – you might have been able to get some off there in premarket as a favorable play on the spiking dollar… and then failure right off the open, so beautiful
ever since you guys started putting your morning idea on the blog instead of on the twitter feed it seems like your blog server gets swamped and I usually can’t access it until some time after the open
ABX 41.4 – 5 short today amazing – wasn’t thinking to look for this level again today – you might have been able to get some off there in premarket as a favorable play on the spiking dollar… and then failure right off the open, so beautiful