Day Traders Diary

02/15/2012

S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +13.50.
Overall strength in the commodity complex has the CRB Index up 0.4% this morning. Oil prices have pushed up to $101.85 per barrel for a 1.1% gain in the opening minutes of pit trade. The jump precedes the latest weekly inventory report, which is due at 10:30 AM ET. In contrast, natural gas prices are down 1.1% to $2.50 per MMBtu. Their slide follows a sharp climb in the prior session, however. Precious metals are performing well. Specifically, gold was last quoted with a 0.9% gain at $1734 per ounce, while silver is sporting a 1.4% gain at $33.81 per ounce.

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