Thursday 8 May 2014

10am update - here comes Yellen... again

Equities are building gains, with the sp' back in the 1880s. New historic highs remain very viable for the Dow/SP/Trans, within the next 2-3 trading days. Metals are flat, whilst Oil is moderately lower, -0.4%.


sp'60min


Summary

*I EXITED 2 longs... RIG and SDRL at the open...   still holding, CHK, DO, and STX.

Personally, I'd just rather clear the deck of all positions into the weekend, I'm kinda tired.
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Well...sp'1880s...and its time for more Yellen...

live coverage from 10am... C-span

Ohh, go figure..the Senate starts at 9.30am.....


10.00am...price action is pretty bullish..the sp'1890s are viable today...along with VIX 12s.

I'd really like to drop DO and CHK later today....

Notable weakness, TSLA -9%..


10.16am.. my gods, the Yellen/Senate hearing sure is dull...  there is nothing for the bears to latch onto.

CHK and DO on the rise.....  with sp' 1886.... a mere 11pts from the high.

TSLA rebounding..-4.5%....breakeven..now viable .... not that I'd ever want to get involved in that nonsense!



10.25am.. Transports within 0.2% of breaking a new historic high.... that is pretty important..with the Dow/SP closely following.