Thursday 7 November 2013

Pre-Market Brief

Good morning. Futures are moderately higher, sp +7pts, we're set to open at a new historic high of 1777 (lucky sevens huh?). The ECB has cut interest rates from 0.5 to 0.25%..surprising many. Metals are around 0.5% higher.


sp'daily5


Summary

*GDP, Q3: 2.8%, much better than expected
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Well, today is Twitter day...so..lets get that nonsense out of the way, then its a clear run until Christmas and new year ;)
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early mover: TSLA, -$5 @ $145....as expected. A fair way to go..until the 110/100 zone.

WFM, -$6 @ $58.  Over-rated whole foods nonsense...getting the smackdown on earnings.
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Video update from Mr C.



Not surprisingly... he remains firmly on the bull train.
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Dow 15800s

Some weeks ago (maybe it was a few months)..I noted how 15800 was a clear threshold which for me would clarify the hyper-bullish scenario into spring 2014.

Well, right now..futures are suggesting Dow will open in the 15800s..so...I have to think that..is indeed it.

16k...this year...and 17k by end of next spring.
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8.36pm... no idea why, but metals are getting smashed lower... Gold swinging from +$5 to -$20 in a matter of minutes.