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SP futures down sharply into the 1050 level. Looking long SSO with a tight stop for a scalp early on if we hold here.


Today's Calendar

Tuesday, August 24, 2010

Economic
08:30 Canada June Retail sales
10:00 US July Existing Home Sales, Aug Richmond Fed Index, Mexico July Trade Balance
16:30 API Crude Oil/Gasoline/Distillate Inventories
Events
08:45 Fed's Evans Speaks in Indianapolis. 07:45 ICSC/UBSW Chain Store Sales. 08:55 Redbook Retail Sales. ABC Consumer Confidence. Trades Ex-Split: ODFL 3-2, . Trades Ex-dividend: Trades Ex-dividend: MHP $0.235, VMC $0.25, WYN $0.12.
Earnings
Before the Open: AMWD, BKS, BIG, BKC, DAKT, MDT, TSL. After the Close: DY, PSUN, RUE, NCTY, PAY.

Yesterday's Recap
Please note our new Blog as we sat on our hands basically till 104. The small gap up broke away higher initially, but once we made new lows through the 1072 level at 10:45 we went long SDS at 33.91 (as noted and time stamped on the blog) http://timothykellehercorp.blogspot.com/2010/08/market-update-long-sds.html


Quote of the day: "There is a growing market in pessimism these days" Art Cashin....Thanks for checking have a great day trading
....Tim.

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Juggernaut Trading, LLC

info@juggernauttrading.com

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