Monday, 17 December 2012

12pm update - algo-bots doing their nonsense

It would seem the algo-bots are on the loose today, and we're seeing consistant attempts to trigger the short-stops, although some will obviously be a fair bit higher at the sp'1438/40 level. VIX is holding up, as is Mr $.




So.the main indexes are now up around 0.75/0.9%. Certainly, it will be a problem for the bears if we close at these levels.

The question then becomes, 'so..err, are we going to break the Wednesday FOMC highs?'.

I find that hard to imagine, unless some cliff agreement is reached this week, and that seems...unlikely.

So..I'm still seeking a flat close, but we are on the edge, lead not least by all those insolvent 'too big to fail' financials.

BTU showing some weakness

Kinda interesting, but..will need a break into the 24s to be sure of that one.