Relative to last Sunday, a week later I’m slightly more bullish over the auction, yet slightly less bullish in total. Oil breached to the downside to $91.50, opening up a strong buying opportunity for bulls, $95 being very probable. A lot happened over the past week, but nothing major, and the market seems ready for [...]

Right now I’m more bullish than the market. Note JPMorgan’s $2bln loss was mark-to-market, and while much has had a go-over painstakingly, not much is known, especially in ramification, more importantly. It is in the market, and U.S. financials held up relative, rather than spiking lower in something closer to a JPM magnitudinal drop mirror.

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