A day that could not get here fast enough for me, the end of the quarter. It will be interesting if this alone is a catalyst to end some of the wackiness we are seeing.
Very interesting day today. Volume picked up, a few attempted and semi failed runs by programs after 2:00. Haven't seen that in awhile. A BIG reversal in commodities. Oil after being up got slammed down. Copper slaughtered. Corn obliterated. Concerning corn, the crop report came out and increased the planted acreage of corn by 2.5 million acres. Wheat also slammed. All this with the dollar only up slightly. Very interesting.
Not everything was bearish though. Appeared credit did okay today.
Tomorrow will be very interesting. Also, Thursday will be interesting with the nonfarm payrolls numbers and jobless claims numbers both coming out. Usually on a short week like this week they would push off the nonfarm payroll numbers until the following Friday. The fact they are not have some speculating that it could be a worse number than anticipated. Report the number when no one is around so it is forgotten sort of thing. The next three trading days (which includes next Monday) I think will tell you alot about the month of July.