The Local's Take: Mid-Day Commentary

Good Morning Traders and Investors,

First of all, congratulations to the Saints. I could care less who won as Peyton is a stud and you just got to be happy for New Orleans getting their first. Brees, Bush, Shockey - seem like worthy role models to me.

It was another beautiful weekend in Park City. The Olympic Athletes had a farewell sendoff at Utah Olympic Park, the St. Regis bar was packed, the snow is super soft and groomers are fast at Deer Valley, the Romp Stomp for breast cancer at Mountain Dell had a great turnout and I hear the fish are biting in the Provo.

The Local Lifestyle - got to love it.

Getting into the markets, it seems as if support is keeping the Dow close to 10,000 as the 9850 mark obviously proved to be oversold. Most stocks had a great rebound on Friday and are pretty much flat today.

We have a big week of data:

• Bernanke Testimony on Wednesday
• Retail Sales on Thursday
  
• Unemployment Claims on Thursday
• Earnings are winding down but still are in the mix

So it should be a technical trade for the most part. With the VIX elevated there is potential for some good market swings. With patience, there should be good trading opportunities - see market bounce on Friday.

USO is at support in the mid 34.00 range for a low risk bullish to neutral trade.

I will update a few charts tonight and definitely tomorrow morning. But I will leave you with the socially responsible stock play of the day:

There is very strong support right around 100 on the 2 year chart. We are just about 10 percent above it. If the stock market holds and supply holds, then oil prices should hold which should keep FSLR above this support level.

Happy Trading and Be Environmentally Cool with Locals Have More Fun Apparel