Well, the markets got beat up last week, as expected with the FED continuing to raise, and Europe/Asia is still outperforming US equities...The long bond turned around as yields began heading higher...
There has been much pontificating as to the break we caught on Rita's limited damage(4-7 Billion)..."It's much less than feared and we got out more or less unscathed...THIS IS STILL ONE OF THE TEN MOST DAMAGING STORMS EVER IN THE U.S. and the real issue is the cumulative effect of the two monster storms and the possibility of more either this year or in the near future...
Crude Oil pulled back in a special SUN trading session @ the NYMEX though. if you pay attention, prices are already back up to near 64 a barrel..near the FRI close..
Big worries on NAT GAS for the winter...
I would sell any rally here in US Stocks and use it to add to short/put positions...
GOLD should continue higher after this healthy pullback after a monster breakout to fresh multiyear highs..Its natural to pullback to the breakout point before continuing higher..
CHEERS
SINGER
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