What's up Gang?

Bulls took it from the beginning and didn't look back today. FINS and SRS seemed to lag the rally most of the day until the last 30 minutes. MJ- What did mortgage rates do today?

The dollar was actually up today and the futures were going nuts so I am a little skeptical of today's rally, but nonetheless it happened. I was wrong about today that's for sure. UUP halted trading today for an issuance of 100 million additional shares becuase of increased demand. After it was re-opened it soared and the volume on the day wsa 4X the avg. daily volume. UUP tracks the long dollar futures contracts, much like DXO used to trade the long oil futures contracts. Not sure if UUP resets daily or monthly or whatever but it does suffer from Contango. Anyway, there was a lot of $23 call volume leading up to today and then this issuance and halting and re-opening and spike to over $23 was very fishy. I expect the dollar to fall some if this rally is to continue. We shall see.

Crude - On the other hand did act appropriately and is now trading below $80. Seems the $80 level is really tough to keep above here.

Unemployment # - Was today the rally and we say 10% is baked in and then they sell the news tomorrow? That's how I'm playing it, at least at the get go tomorrow. Or we could 9.9 or even 10% and then we charge to 1100 S&P. Who knows, it's a crap shoot but I'll dance..right Turtle?? Turtle, I miss your addition to the Debrief..

Looking forward to some good discussions tonight and encourage all to weigh in on these and other topics.

GL!

-Commodityy