An impressive start to the month with a gap open and extension on the strength of overseas markets. A broad based rally with commodities providing leadership - Coal, steel, Oil Services all added 4+% on the session. Ag/chem continued higher as well, gapping above the 200 SMA. The sector is overbought but propels higher on the supply/demand issues priced into crop futures. Another bad day for the $USD vs, $Euro. As depicted on the $USD down below, price is fast approaching the 200 SMA. A technical bounce is due so it's important to keep an eye on it and it's effect on commodity related plays. Canadian markets were closed due to holiday.
Ambush short for AKAM which is weak since earnings last week.
MOS tested the ambush zone of the last leg up in opening trade. Wait for confirmation, enter long. Partial as price approaches resistance and let the balance run.
BTU was a HCPG pick from last night's newsletter. Looks like a box play and extends 100% before lunch. Sweet!
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