Wednesday 3 December 2014

3pm update - churn into the close

US equities look set to hold the gains built across the day. Price action is classic algo-bot melt mode... with a notable new high for the Dow. Metals are holding gains, Gold +$11. Energy prices remain weak, Oil -0.2%, whilst Nat' gas -1.8%.


sp'60min


Summary

A pretty tiresome day...  so much for the bear flag yesterday.
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Notable weakness, AMZN -3.1%. The irony on that one... since they lose on every sale.. the higher retail sales are this festive season... the more money they lose.

CEO Bezos... remains the worse CEO in the western world. Congrats to the shareholders who keep him in command! 
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3.23pm... market continues in classic melt mode.... sp'2073... 2pts shy of the recent high.

If Mr Market likes the jobs data this Friday.. the low 2100s are well within range... although I realise that will make the market pretty damn overbought again.

back at the close.