Tuesday, June 1, 2010

Hawaii 2:07 am: Bearish roosters

Cockle-doodle-doo to you this bright and early Tuesday morn. Futures are down: Dow Jones -118, Nasdaq -18.25 and S&P 500 -15.30.

Not entirely bad considering the chaos across Planet Earth. Top Kill is a Top Flub. China back to saying, "Europe, your debt crap sucks mightily." Bond issues in Europe. Things could be worse.

Ten minutes into premarket trading:

• AAPL 258.65, up from Friday's 256.88 close. High: 259.18. Low: 255.39. Quite the comeback in just a few minutes. Apple was upgraded by UBS with a target of 320. Just sold its 2 millionth iPad. That's right. Holeee Shit.

• BIDU 71.55, down from Friday's 73.21. High: 72.51. Low: 71.50.

• C 3.90, down from Friday's 3.96. High: 3.96. Low: 3.85.

• F 11.39, down from Friday's 11.73. High: 11.53. Low: 11.33.

• FAS 23.10, down from Friday's 24.14. High: 23.75. Low: 22.94.

• FAZ 15.60, up from Friday's 14.93. High: 15.70. Low: 15.15.

• FXI 38.80, down from Friday's 39.38. Barely any volume so far.

• GLD 119.88, up from Friday's 118.88.

• GOOG 478.80, down from Friday's 485.63. High: 481.91. Low: 478.60.

• GS 143.10, down from Friday's 144.26.

• IRE 4.72, down huge from Friday's 5.10. NBG also down to 2.38 from 2.45. STD is at 9.81, down from 10.15.

• USO 33.21, down from 34.03.

• DUG at 72.35, up from 69.08 on minimal volume.

• VXX 29.85, up from 28.58. High: 30.10. Low: 29.10. Volatility seemed to be a winning play before premarket, but once the AAPL upgrade came out, things reversed some.

TLT is worth watching early on, too. If volatility reigns this morning, Treasurys will keep rising.

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