Tuesday, January 17, 2006

 

Sectorz and Intraday : Watch the momos

Futures are pointing to a significantly lower open with crude surging and gold hitting new highs in the overnight session.

We talked about momo sectors being taken down one by one in this post. Precious metals stocks have run up a lot and as one of the few momo sectors not taken down yet, they are vulnerable to a sharp pullback. Even if that pullback is healthy correction in an upward trending market that sets the stage for the next leg up. Is it going to begin today ? Newmont is down close to 1 % Pre-Open.

All in all, should be a very interesting session.


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# posted by Kaiser Soze @ 9:08 AM
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