First off I’m back and secondly I am going to get Narayana Kocherlakota’s name correct today, or I hope so.
Tomorrow we have Motor Vehicle Sales, Gallup US ECI, James Bullard speaks, Factory Orders, 4 and 52 Week T-bill Auction, Narayana Kocherlakota speaks and earnings Before bell from : Aetna Inc. (AET), BP p.l.c. (BP) and after the bell from AFLAC Inc. (AFL), Chipotle Mexican Grill, Inc. (CMG) and The Walt Disney Company (DIS)
Like the PitBull says the S&P really does move around like water in a bath tub.
All year has been filled with “extreme moves” and today was another great example…
Mutual Fund Monday came back to life after being down 5 of the last 8.
Can you say NHOTC?
The Mutual funds sold on Friday and started putting the money back to work on the first trading day of February.
The ES sold off down to 1974 up to 2004, back down to 1973 up to 2003
Sell off from 2003 down to 1983 then rally all the way back up to 2018.50 late in the day.
Now its time to take out the 2040 to 2060 buy stops
High: 2015.30 Late
Low : 1974.00 Mid-morning
Last: 2011.40 UP 23 handles
Volume: 2.1mil minis; 5k bigs
MOC: BUY $450mil
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