Tuesday, 30 July 2013

10am update - choppy gains

The main market is holding moderate gains, but its a real choppy mess right now, and the bulls actually look in danger of seeing the indexes turn red later this morning. Metals are on the slide, Gold -$9, Oil is -0.7%, with the daily charts for both looking especially weak.



So, a small jump to 1693, but the market is looking a bit shaky.

Baring a break <1680, I have to hold to the original outlook, which is still calling for higher levels into tomorrow.

As ever...thats what trading stops are for.

Complete loss of support in POT, MOS, and SQM

POT, daily

Due to some trading deal, Mr Market is assuming prices are set to tumble. Argubly, those 3 stocks are to be left alone, but no doubt..knife catchers galore in there this morning.


As for SLV, I got the kick...@ 18.99.

If that was the low of the week....well, I won't be surprised. Regardless, I don't like the break of channel, and the loss of the 19s.

So, I'm out of that mess, and back on the sidelines. Hmmm