Tuesday, 26 November 2013

12pm update - awaiting renewed weakness

The main indexes are a touch higher, with the sp' stuck below yesterdays new high of 1808. Equity bears have reasonable opportunity to sell the market a little lower this afternoon. Metals are weak, with Gold -$5. A VIX close in the 13s looks viable.



*good lunch time reading from Armstrong. Manipulating markets.

It continues to be a somewhat sleepy trading day again..but hey..that was expected.  First downside target is the 50MA on the hourly.... 1797..that is certainly viable this afteroon.

The notable action remains in the momo stocks like FB, TSLA, and TWTR. FB has seen a 4% swing already today. Pretty unstable, and no doubt, many short-stops got blown out in the morning.

VIX update from Mr T.

Indeed, no one is buying near term volatility. The big players are gradually picking up spring time blocks..for the debt ceiling in Jan/Feb.

time for lunch!

12.23pm..nasty spike to sp;1806...bears in trouble again. A daily close >1808 would really be a spiteful close. Urghh.

..and that...is why I'm refraining from meddling in the indexes right now. Only another 4-6 months to wait. 

AAPL is making a play to take out the Oct' $536 high...very strong price structure..offering $600 by year end.