Friday, 20 September 2013

1pm update - indexes floored?

The smaller 5/15min index cycles look floored, with the VIX looking maxed out having managed to flip fractionally positive. For the bears...this could good as it gets today. Precious metals remain under severe pressure, with Gold -$32, and Silver -$1.10 (-5%).



*well, considering its the weekend, and I try not to hold positions across the weekend (rarely good in options trading), I'm inclined to just wait some more.

I'd like a few hours of chop to form a secure floor before getting involved. Of course, by late afternoon, we could easily be in the 1720s again.

GLD, daily

Rough end to the week for the gold bugs. Maybe problems in Oct/Nov, if GLD loses 125

1.28pm.. fractionally lower lows...and sp'1712/10 looks viable within 30/45mins.

Hmm...VIX remains...flat. despite the declines.