Friday, 8 November 2013

Pre-Market Brief

Good morning. Futures are moderately higher, sp +3pts, we're set to open around 1750. Metals are a touch higher, Gold +$2. Regardless of the open (post jobs data) equity bears should have a reasonable opportunity of pushing the market lower into the low sp'1730s.



*monthly jobs data:   204k net gains, headline rate: 7.3

Lol, this number is massively higher than just about every every estimate, who have been lowering their estimates relentlessly for the past month.

We probably have a very busy end to the week. Should see some rather dynamic price action today. As ever, with heavy QE, bears face the usual will need to be some serious sell side today, to out weigh the new money.

Notable early movers...
TWTR -1.4% in the low 44s. A break <40 would be pretty interesting.
TSLA -3% @ $135...the down trend...continues.

Have a good day everyone!

8.32am... after the jobs data, metals get the hammer, gold swings from +2 to -13

sp' swings -5....   pretty fun start to the day

8.34am...sp' breaks into the 1730s.

Clown finance TV....

Santelli to Liesman 'you can't survey people who are in a straight jacket'. 

Ahh yes..  a great start to the day.

8.59am.. sp' holding moderate declines , -2pts. 

Certainly though, there is no sign of any ramp to start the day.

I hold to original outlook...a floor in the 1735/30 zone...late today/early Monday.

9.14am...well, to the annoyance of bears..indexes are right back where they started... sp +3pts.

Notable strength in the USD, +0.4% in the 81.20s