Nothing wrong with a little beach time during Spring Break. No, this time I don't mean the Beach at Deer Valley, which I am sure was rocking.
I mean the real beach - Jacksonville Beach, specifically the TPC Sawgrass Marriott. Great service at the hotel and beautiful surroundings. They were readying the course for the upcoming early May tournament. After a rough, cold, dry, windy winter, they have lots of prep work to do. The course is quite brown, so in a few weeks, the gallery may be yelling: "Get on the brown!!"
Forty eight hours and very little sleep. NCAA games, standing up in a wedding, meeting new friends and working out in heat and humidity.
Now it is time to get back to work and looks like the markets are going to try to add a little volatility to the mix. The Fed seems to be in the news daily, the health care bill is likely to pass (in some for) and we have now come off from our highs in the SPY again.
Taking a look at SPY, the old resistance level is still support. A close significantly below 115 would void out that support level. We shall see...
The forex markets are pretty slow today - not much to affect them other than the GBP and the EUR are near recent lows against the dollar.The socially responsible trade of the month, First Solar (FSLR) trade is working out nicely. We were long at 100 and shorted at the trend line at 115.00
Could be a quick end to trading today if we stay in this range. Remember, we were set to open down 6 points in the SPX, but opened flat. The bid is still in tact.If the markets are mellow, that means a mellow workout for me - yoga to stretch out after the long weekend of flying back and forth across the country. If you haven't seen it, the movie pick of the week is The Blindside. A good way to kill time on the Delta red eye.
Have a great start to the week and if necessary, I will update you on forex trading opportunities, but otherwise, see you tomorrow morning.
Be Environmentally Cool
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