Dave Landry

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Got Random Thoughts:

Last night I was watching a NatGeo special on Alcatraz while I
caught up on emails. Although the special was interesting, I didn't
want to go to bed with such negative images in my head. So, I
channel surfed looking for something comedic. Two clicks landed me
on Dave Letterman during the middle of his Top 10 List: 
#5 "Sit on my ass drinking Mountain Dew." 

Sounds like my Thursday! Isn't that ironic (don't ya think)?

The Ps ended flat but there was some internal strength. The other
major indices managed to close at multi-month highs. So, although
I'd like to see some serious follow through, Wednesday scores as a
positive nonetheless-better than a poke in the eye.

The Euro banged out new lows and the Dollar hit new highs. In 2011
there was an obsession with this. So, the market has either
"decoupled" or it will correct. Some prediction huh? Well, I think
we can't completely ignore this just yet.

Sticking strictly to the index charts, they still remain below
quite a bit of overhead supply. And, again, follow through will be
key.

So, it's still a market where you have to pick your spots
carefully. Take only the best, leave the rest, and avoid getting
too aggressive. The patient trader wins in the long run. As we
learned in 2011, a zero percent return is often better than a negative
return. 

Futures are firm but well off their best levels. 

Best of luck with your trading today! 

Dave

Questions? Comments?  Buy my new book, read it, then shoot me an
email at dave@davelandry.com or call me at(1) 985-898-4993. 

Disclaimer:

All predictions are about the future. A lot of $#*!  can happen
between now and then. 

Information is provided for educational purposes only. 
See more disclaimers at www.davelandry.com