Thursday, 9 May 2013

Closing Brief

The main indexes were choppy for most of the day until a late day 'QE tapering' rumour upset the algo-bots. The headline indexes closed moderately lower by 0.1 to 0.3%, whilst the Transports saw somewhat significant falls of 1.2%. Metals and Oil both closed weak.



Were it not for the little 3pm rumour, today was turning out to be just another entirely boring day.

What was most bemusing today was seeing the cheer leading maniacs get edgy about an index fall of 0.3%.

*the Bernanke is speaking tomorrow at a Chicago Fed banking conference. I'm not sure if the media will pay that any attention, but someone will doubtless be listening for signs of 'tapering'.

the usual things..across the evening.