Levels to watch…….

Posted on 12/14/2011

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Ok, I have very little time to write, but the Santa Claus rally got a stocking full of old carbon emitting coal.

The combination of a Fed that unwilling to overtly begin QE3 and Europeans hell bent on austerity WILL LEAD to a new recession in 2012. I have no doubt about that.

From a trading perspective…..the risk off guys will be looking at 1570 (250 day moving average and summer support) in Gold.

Also, 1200 will be a round number of interest on the S&Ps.

Short termers could employ a stab and grab technique (is there anything else these days?) with a well defined leash around those areas.

Finally, why is ANYONE willing to sell the VIX below 25?

P.S. Keep in mind this is a Triple Witching week which lends itself to greater volatility.

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