I would like to thank you all. It was fun today. I would also like to thank my market friends for keeping me in the loop today.
- EUR/USD held above 1.4100 for most of the day as there were buyers below, good buyers. It is threatening that level at 4 PM as the Portugal parliement has voted the austerity budget down. This should result in the resignation of PM Socrates. Hate to lose a guy with a name like that.
- Commodities were well bid as oil traded above $106 and after fading at the close still closed above $105. Gold settled about $10 higher and closed about $1439. AUD and CAD rallied as a result and are closing at the stronger side of their range.
- US announced new home sales which were weaker than expected. No one cared.
- Middle East unrest and the Japanese nuclear situation took a back seat to the awaited news out of Portugal.
- US stocks closed about 0.6% higher in the Dow and 0.3% higher in the S&P’s.
- Dollar was range bound for much of the day with moves coming late in the day.
I will now turn you over to Sean. Thanks again. Jamie will return tomorrow. This is Jesse Livermore signing off.
