Thursday, 20 September 2012

10am update - morning weakness

Good morning. Some moderate declines for the main indexes but VIX remains only 5% higher so far.

*we await some econ-data at 10am, if its a little bad, then sp'1445 looks very reasonable to expect by 11am.




We're still putting in relentless higher highs..and higher lows each cycle. I don't expect us to break below 1440 today/tomorrow. Considering the near total lack of sell side volume, there seems no reason why this market will start breaking lower lows.

I am short, but looking to bail in the low 1440s.

With tomorrow being quadruple opex, it'll be choppy, and a clear direction is unlikely. So, I'm seeking an exit today/tomorrow, and look to sit it out across the weekend.

back at 12pm