Sgt. Schultz sent to the front :-)

Do you remember the old WWII war movies, or even Hogan’s Heroes, when they disciplined soldiers by threatening to send them to the Russian front? Well, I guess that’s what BP is doing with CEO Hayward…sending him over to the russian front as someone else runs the mothership.

Today was a sausage-maker…chop, chop, chop. The good thing, it relieved some of that overbought pressure in equities. The bad part…gold and oil got bitch-slapped….hard!

All the indexes closed near breakeven, the Dow in the green and the rest in the red. Not very damaging, but I wouldn’t want to see much more than 10 points shaved off in the SPX…a test of that breakout would be good.

Tomorrow will be wait and see…see what the Durable Goods Orders says in the morning and what the Fed’s Beige Book says in the afternoon. Oh yeah, and in between we’ll see how oil inventories are doing.

Happy trading tomorrow!