01-08-2013 08:26 AM
Interesting week ahead of us with the Jan 11 report on Friday. This one has a reputation as being a shocker. Hopefully it provides us traders with some fireworks. We could use a little action down there. The holiday has drained the life out of the pits.
Stories of tighter supplies doing the rounds under pinning prices at these levels. I expect as we get closer to the day that the volumes will get thinner and thinner.
Stocks are sideways, oil is a little better and there is a small rally in the bond market.
The real story will be Q4 earnings. Will the big guidance lower last quarter make things look a lot better because of the easy beats? We shall see. Alcoa reports after the close.