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ShelladyOptions
Senior Contributor

OptionEye Morning Market Macro Outlook - May 16th

Good morning.

 

Talking heads are all scratching their heads as it looks as though the economy might not be doing as well as they thought.

 

As for grains, kind of quiet and overnight corn was down 2, beans down 3 and wheat actually up 1.

 

Gold is off .67 cents to $1295.50 and oil is up .25 cents to $101.75.

 

The dollar is slightly stronger to 80.06 which is up .05.

 

And the 10 year.....the yield has broker below 2.50% to 2.49% and actually got as low as 2.47% which is the lowest we have seen since last October. The lower the yield, the worse the economy is seen to be doing.

 

And now for stocks....ouch. Yesterday was ugly. Reports out yesterday said a major fund manager, David Tepper, who by the way earned a cool $3.5 billion - yes billion, last year saying he thought that it was a good idea not to be to 'fricken' long...enough to scare the market lower by 200 in the dow.

 

Today things have settled down and are a little lower but not by much.

 

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