8/13/2010 premarket | Bulls on Wall Street

8/13/2010 premarket

 
 
Morning team.  Futures are gapping down again .5% accross the board. We are starting to get pretty oversold. Look for a dead cat bounce or if news surprises us we can always reverse.  Crude, nat gas are both flat. So was Europe.  We have a host of economic numbers coming out that will potentialy move the market.
 
CPI
Retail Sales 
MI sentiment numbers
Business Inventories 
 
all will be out before 10am.
 
remember we are in bear market trading still. Keep positions light.  Sell into all gains. Capital Preservation is key.
 
Lets watch for a midday or midmorning bounce point in can come quickly.
 
Keep an eye on CCME and VECO we added yesterday and they both look very good right now.

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