We have returned to Boynton Beach after spending time in Disneyworld and beautiful Clearwater Beach, Florida. If you've never been to Clearwater Beach you just don't know what you're missing. Gorgeous!
The FED raised rates, again, and that means they simply don't have a clue. The damage that has been sustained in South Florida alone will probably push the economy over the edge. Dade, Broward, and Palm Beach counties are a disaster and business, like the traffic, is at a standstill.
I stepped up and SOLD the DOW futures today at 10444 and 10464 and made a nice piece of change. I also BOT some 30 yr. Treasury futures and sold them before the close for a profit. The only position that I added to is the DEC GOLD contract. We managed to close below the previous low at 462.00 and that's bearish. I'm holding for another day just because I've seen the market do this before and it may just be a head fake. I have the luxury of going "against the grain", so to speak, because I have a huge profit in my overall position. So, let's see what tomorrow brings.
Dale F. Doelling
Chief Market Technician
Trends In Commodities
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