Monday, April 2, 2007

Daily Markets Comment

EQUITY - Short term model turned from negative to positive today as Friday the model dictated an upside reversal was eminent. Model is still quite weak, but will improve with some follow through or a light consolidation on Tuesday.

CORN - Continues its hard decline with another near limit down day. Market is very close to oversold but still could see more short term weakness. I continue to be Intermediate Term Bearish on Corn.

COCOA - Timing could not be better as cocoa looks like it has begun its collapse today. Should be the start of an intermediate term decline.

10 YEAR T-NOTE - Looks like it wants to rally in here. I continue to look for rates to move lower over the next 6 -9 Months.

CHCI - Looks like it is starting to stabilize but it still needs to prove itself a little more.

DVSA - Having trouble with the 39 day moving average as suspected. Looking for a pullback to the low $7 area.

USU - Stock is behaving pretty darn strong. Perhaps its pullback is done. While I thought it might get to $15 before working higher, it may have made a short term low.

GM - Continue to look for higher prices, especially after this most recent pause that refreshes.



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