Futures Are Lower...Oil, Gold Higher

Futures are lower in pre-market trading and markets are expected to open lower. Overseas oil is up over $2 a barrel and gold is up over $20. Credit concerns related to FNM and FRE are the catalyst behind the rise in gold. See our Wednesday night post of the bottoming formations in the Ag-related, coal and steel stocks for ideas on what could be moving on Thursday. As we have been posting for over four weeks oil falling is a key factor in stocks rising...be prepared if the trend reverses. Stay focused on trend and important support and resistance levels in your trading. In pre-market trading RIMM and AAPL are lower...POT, MOS, BTU, CNX, SCHN and X are higher.