Tuesday February 16th 2009

Happy Fat Tuesday !

Coming in after the Presidents Day holiday we have stronger commodity sector.This is due to the U.S. Dollar and Euro and stronger stocks of the ISM Manufacturing number this morning. The March Corn is trading at 364 1/2 which is up 3 cents. The range has been 365 to 362. I still remain bullish in this sector and I'm anxious to see how far the bulls can run with this market.

On the Energy Front were trading the Crude Oil at 7544 which is up 131 points. I still believe we may see a major break in this market but it seems the forecast is early. And the number 2 Afghan Taliban captured in Karachi Pakistan in a joint Pakistani-American operation according to a senior U.S. official. And it also seemed that the other Middle-East usual suspects seemed to be quiet this weekend.

Stay Tuned !

Have a Great Trading Day !