Tuesday 11 November 2014

11am update - semi holiday chop

US equity markets remain seeing minor chop, but with notable new historic highs. Metals are holding moderate gains, Gold +$5, but looking vulnerable later this afternoon. Nat' gas remains weak, -1.9%.


sp'daily5


Summary

*watching BABA's Jack Ma on clown finance TV earlier, interesting, and seemingly a very genuine guy.

However, I consider highly problematic that BABA stock is not really a true stock.. merely part of a fund based in the Caymans. Just reflect that they sell stock... but the stock has zero voting rights. How funny is that? Crony capitalism at its best, right?
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As for the main market... note the daily MACD (blue bar histogram) cycle.. we have a rare case where price momentum has weakened for the sixth consecutive day, but actual prices are still climbing.

It bodes badly for equity bears for remainder of the year.

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time for a slightly early lunch