Archived IMT (2009.08.14)

We warned in our last IMT of 2 hrs ago to keep an eye on oil. Our $69.70 target has been breached and oil is now down $3.00 to $67.60, damaging CAD across the board and boosting USDCAD by 150 pts. More trades on http://twitter.com/alaidi We warned in yesterdays article how the 1,015 in the S&P500 was a key resistance (38% retracement from the Oct 2007 high to the Mar low). Cable looks to test 1.6470 and CADJPY eyes 85.70. We said on CNBC on Wednesday that stocks will do the "bringing down of yields for the Fed" and that's exactly what's happening today. http://www.cnbc.com/id/15840232?video=1212649235&play=1