Daily Market Summary

S&P futures are down 0.53 % in morning trading
Crude oil futures are down 0.50%
Gold futures are up 1.08%
Bond Futures are up 0.25%

S&P futures are down in morning trading. We are going to see sideways to slightly positive movement for the next week or two. I am very positive on Gold (GLD). Gold futures are presently at 1239. We are looking for a 7- 10% move on GLD. GLD is currently trading at 116.94. We are looking for a move to the mid 120’s.

We are seeing Bank stocks tumble into State 8. Deutsche Bank stock has been falling since 2009. Is there trouble brewing in the banking sector? This is not a good sign and something we need to watch closely.

DB

Stocks that entered State 1 yesterday:
NEW GOLD INC.
HECLA MINING CO

Stocks that entered State 8 yesterday:
IBERIABANK CORP
ASSURED GUARNATY LTD
TEXAS CAPITAL BANCSHARES

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