Monday 9 July 2012

3pm update - falling into the close?

With Alcoa earnings kicking off the Q2 earnings season, who wants to be long ahead of the close? I didn't think so.
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sp, daily5



Summary

Looking forward to Alcoa earnings at the close, there will doubtless be some follow through effects on the broader market at the Tuesday open.

Best bear case close... 1345, vix 18.50/75

I'll hold short into Tuesday, and see how we open then.
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 More after the close