Oil & Gold DOWN ....good for stock market !!!!!

This morning we are seeing BIG drop in OIL......and GOLD also going DOWN because US$ is UP on better than expected trade deficit.

10 year Bond is stable well below much dreaded & talked about 5.25%.

Futures are almost unchanged @9.10 AM.

We may be @ the tail end of this much needed pullback.

Sharp & quick correction is always good in an ongoing bull market.

I think we got a very good CHUNK of correction out of the way...yesterday.

Today we try to get the SCARED selling done...then we may end GREEN @ close.

When investors are SCARED...........you can almost PREDICT that this market is not UNRAVELLING.....but already HAS....so I think.

Most of the strong stocks are UP in pre-market like AAPL,GOOG,QCOM.......

NSM gave a big boost to tech by beating estimates easily.....it is indicated to open @10%++ to a 52 week HIGH.....also guided HIGHER.

I think we will see much CALMER day today....and some SCARED soul may even become BRAVE by doing some buying.

There is always a reason given for wall street SLUMP.....but I remain in the camp that it was nothing but an OLD FASHIONED CORRECTION from OVERBOUGHT conditions......which is mostly done & overwith.

So good luck on diversified repositioning today & if you have already done so yesterday.....then you will REAP the benefit today.

Please do your own due diligence & be COMFORTABLE in your strategy....it is your SLEEP & $ ...we are talking about.

BLOG does not give buy or sell.

Saleem