It’s 4 am central and for some reason, I can’t sleep.. Might as well update you all with what I see.
– The battle in Libya appears to be an outright civil war now with heavy casualties expected.
– Watch for news on tapping US oil reserves to calm the run up in prices at the pump.
– Should be some big trades in rare earths this week.
– Oil hits 106.40 in overnight trading about an hour ago – over 105 and I would expect a market gap down. However, this may create some buying opportunities of oil gets heavy and settles back down towards 100.
– Gold testing 1440 again as it moves up with global anxiety
– Silver at 36.40 on very strong overnight run. expect silver related stocks to gap up at open
– Greece credit rating downgraded. Watch the Euro/dollar tomorrow. US dollar index plummeting at this hour.
– EURO hits 140 and nearing November highs vs the dollar.
– Nikkei takes a 1.75% hit overnight and European markets struggle to hold strength largely on Greece credit downgrade.
