Suspected This

Daily Continuous

Want to apologize for any issues with yesterday’s Daily — (there was only one complaint) — but it reminds me to remind all of you that if you don’t have a Daily in your email — it maybe an email issue — so be sure to log in and check the website. Unless I am ill there should be a posting.

On to the market– once again a big short covering event ran out of steam there were no follow through buyers to build on the price. Not over yet as I noticed that total open interest had a small gain yesterday (according to the CME) while the February contract had significant declines in open interest. Perhaps the short covering was just rolling forward and selling a differed contract but covering the Feb exposure. Time will tell as the week wraps up.

Major Support:, $2.00, $1.991-$1.96, $1.795-$1.766
Minor Support $2.62, $2.47, $2.38-$2.26, $2.17
Major Resistance $3.00, $3.16, $3.48, $3.536, 3.59
, $3.65