FOR MONDAY: (9/12) Finally breaking out of the doldrums as stocks had their biggest move in 7 months and it is all too welcome. We are thinking another flourish to the downside and then recovering the rest of the week for a sucker punch and then lower into FOMC. Crude will be a sale on a bounce for a few days and the dollar may retrace from Monday’s high for a few days. Metals are getting hit by the deflation cycle which goes on another week and we will not buy them even if we get a sucker bounce for a few days after Monday.
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