Monday 28 October 2013

1pm update - no sellers, a few buyers

Market remains in classic algo-bot melt mode. There is near zero sell side volume, a few buyers, and no doubt, a few shorts are covering across the trading day. With the daily and weekly upper bollinger' offering sp'1770 and 1780 respectively...bulls still have upside into the FOMC this Wednesday.


sp'60min


Summary

Little to add..its simply the same old nonsense that we've seen a thousand times before.
-

CNX, which clown TV was talking about all morning. The 'Cramer' effect..possibly accounts for today's candle....


It remains one of the better coal miners out there, but then...hardly any of them can turn a profit, so its not saying much.
--

AAPL.. ahead of earnings...


A $20/30 AH ramp looks...probable. Relative to the main market, it remains bizarrely under-valued.