Haven't seen that in a long while, if ever. Like a Mercedes selling for less than a Chevy.

At the moment on the 15min chart

Huge move started right at midnight - ES up 17.50 and DOW up 150 I'm short 3 ticks from the top and still nervous, lol

Highest this time of year in past 80 years. Inventory up 5.4 myn

Link to full report

Restaurant Stocks 

I think feeling is that because of more disposable income due to gas prices people will eat out even more. Plus can be considered somewhat defensive as well as most don't have currency problems. Everyone should be able to find something on here they like. Notice the nice % gain that most had today.

Copper got killed today. Some dealer had to liquidate supposedly

http://screencast.com/t/KIaea8RPsqj1

Came in way below estimates. Causing big spike in futures. Guess everyone thinking more pressure on ECB and UK to prime the pumps. DX going vertical again too

Down to 44.65  Brent down another 1.85 to 45.60. Less than a dollar spread.  Maybe we'll get our capitulation day soon. Making a good start on it tonite. Sheesh, just dropped to 44.50. We're down another 5% tonite.

But we've pulled back some here, just looking for patterns

Any feeling on mkt here?

Been a pretty active nite. Gold had nice move up, hitting 1231 area, until around 1:45 when the dollar started rallying up nearly .50 and pushing gold back down to the 1220 area.

Oil has been weak all night, undercutting Fridays low slightly, hitting 47.06 with not even a hint of a decent bounce yet. Natgas has likewise been down all nite.

Indexes were down to flat until about 1:45 also, and have steadily moved up with SPX futures up about 12 points and the DOW futures up around 100 currently.

In Forex, with the strong rebound from Friday in the USD, pretty much everything else has sold off against, including Euro, Yen and Aussie.

Oil back to within .30 of the low the other night. Brent has undercut it's low already by about .40. 

Oil did just as we expected. Brent undercut the 50 whole # by about .20 and bounced and our oil undercut S1 by about .10 and bottomed at 46.83 around 3:20. Since then it has bounced about 1.80 ish all the way back up to the CP in about 2 hours. Brent has bounced about 1.50ish.

Markets in general seem to be liking. Euro zone numbers came out and were deflationary which will put a lot of pressure on ECB to crank up the presses. So looks like buyers coming out of the woodwork pre-market. SPX futures up 13 and DOW futures up 100.

Brent oil continues to slowly fall. Trading at 50.41 at the moment. Am thinking with 50 being a nice whole number that might be the area we bounce from short term. (allowing for some possible stop running, of course) That would coincide with around 46.75 - 47 on WTI, based on recent spreads.

LOL, It's almost 4 months to the day that Gartman said Brent would never break $100. Was trading just over 101 a the time. None of us would have thought there'd be a 50% haircut in 4 months.

The unstoppable USD continues to climb. New high at 92.14  How high can it go?

Oil making new lows once again. Just hit 47.24  We've got to be all over that long term trend line.

Question is - Since every trader in the world watching this trendline, do we undercut it to flush out stops? Steve and/or Matt, What are your thoughts?

New issue that came out in November. Had some serious tax loss selling, but has been basing here for a couple of weeks

Looks like trying to bo from it's base