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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: grusum who wrote (7227)	2/7/2004 2:15:06 PM
From: mishedlo	Read Replies (1) of 110194

Well we will see. There is another day and markets can do the unexpected but as of now I would expect the US$ to open lower, gold and silver higher, eurodollars and euribor higher Oddly enough I think we could see a continued smackdown in oil. It is clear the US economy is slowing (at least to me) and perhaps that will take some pressure off oil and copper. On that latter thought, as soon as jobs data hit I told my broker that unleaded gas and oil would be lower. He said there was no reaction. I do not follow those intraday but at the end of the day march unleaded was down a whopping 4 cents. Copper is hugely affected by the strike as well as demand from China, neither of which has anything to do with US interest rates. It is quite possible that stuff like copper is in the topping phase right now (although the chart does not show it). I am long a bull spread on Unleaded Gas but it is for geopolitical reasons more than anything else. All it takes is one key pipeline blowup and there is a big mess with inventories this low. Mish

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