Still Catching Up

I had over 75 emails yesterday so I'm still catching up with a few things, I just can't get up early enough!

In any case, we're light today on US data, the market so far has acted something like 3C was showing yesterday, no big gaps down, so I'm assuming the 1-5 min positive market divergences out of the bottom of yesterday's descending wedge will still stand as of this moment now that the shorts are pulled in on what is perceived as a failed pattern-so watch for some early intraday strength, we'll see where it goes from there.

USO has broken out by a hair (the move is mostly confirmed so far, the 5 min chart is in confirmation), and today being we are light on data, escalating tensions in Libya and other parts of the world will probably be the catalyst for any moves so keep an eye on mainstream press and of course Stratfor if you are a member or sign up for a free article. I expect if this drags on in Libya, there will be some NATO/US air support for the rebels which could have market repercussions-boots on the ground will be a huge escalation.  Watch the Palestinian territories as well, it's starting to heat up there as well as the usuals-Bahrain, Yemen and the gulf emirates.

N. Korea has been quiet too long, that won't go on forever, especially with the redeployment of US Naval assets, that's why the new navy map is so important, if that region is left short handed, N. Korea will likely make a move.

I have a ton of trading ideas I want to eyeball and then I'll start sending those out. I'd be looking at any shorts you like and thinking about using any market strength to "get your toes wet" and the other themes we've discussed as far as leverage on longs and longs in general.

Be back soon with another update, I really want to check these trades before sending them out.

Don't forget to check out the featured trade, LVS as well.