Friday 28 November 2014

12pm update - an early closing hour

US equities remain in micro chop mode, but with the usual underlying upward bias, with notable new historic highs in the sp'500 and Trans. Oil remains in collapse mode.. heading for the target zone of $65/60. Metals are similarly weak, Gold -$17.


GLD, daily


Summary

*Sunday night futures could be real interesting for the precious metals. Once the Swiss vote is out of the way, there is zero reason why Gold won't see another severe wave lower... first target is a move to the $1100/1080 zone.
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There are so many powerful individual stock moves... it is hard to know what to highlight...

I can merely refer anyone to CHK, RIG, SDRL,  FCX

.. for upside... JDST, DAL, UAL.. and my new favourite... INTC (headed for $50s.... which is partly why I am resigned to sp' 3k).
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time for lunch... back at the close of 1pm.