Returned from a week away in Martha’s Vineyard with my family. Always a plus to get away especially on the Vineyard, my favorite place.
Like the look of coffee. Think KCZ has a good shot at 134 this week and yet with Novy (X) serial option expry due Friday, mkt needs to prove itself able to leave 130 level. I think it can and will and we may see a go at 138-140, but only if we can close KCZ above 134.
The economy scares me. On Friday, the Labor Department reported that nonfarm payrolls decreased by 263,000 in September. That kind of news, combined with the way politicians (who cannot be trusted) want to legislate our way out of it, make me nervous.
Anyway, here’s a link to a graph worth a look. http://www.chartoftheday.com/20091002.htm#
