Trade for Today

With SnP hitting all time high and Nasdaq 14 years but at closing Snp closes below 1850 which  still sign on caution  but  the recent rally has wiped out the S&P's YTD loss of 5.8%, reached in early February, as investors are willing to ignore disappointing U.S. economic reports and mixed Q4 earnings as unduly influenced by the harsh winter weather.A mixed bag of economic data and corporate earnings failed to dampen enthusiasm for stocks, but "there doesn't seem to be follow-through," says UBS derivatives trader Jeff Yu, who says much of today's buying was electronically driven with some covering of bearish positions by hedge funds.

Following are trade calls for today,

• Buy Crude oil at 102.10 stop below 101.20 target 103.20/104.30 
  
• Sell Eur/Jpy at 140.90 stop above 141.60 target 140.10/139.30