Thursday, 12 November 2015

2pm update - bid 53, ask 55

US equities remain broadly weak, with the sp'2040s due.. along with VIX 18s. A capitulation-washout early next week in the 2020s - with VIX 20s looks probable. Metals remain choppy, Gold -$1 at $1084. Oil remains significantly lower for a second consecutive day, -2.0% in the $42s.


USO' daily2


*weakness in Oil/Nat' gas is certainly help pressure the main market lower, but I don't see it as a recessionary warning. There is simply too much supply... not that I see lower energy prices as anything but good.. well, except for the producers!

Price action remains a little choppy, as clearly there are buyers out there.. looking for renewed strength into year end.

Relative to the bear flag - which stretched almost 3 days, and the previous down wave - lasting almost 4 days... it is not bold to just add 3 days to yesterday afternoon, taking us into late Monday morning.

If we're somewhere around 2035/20 zone Monday... that will be real tempting.. even for yours truly.


Early signs of a trader....

Hopefully there will be an update on what price the pet store took for the boy.

back at 3pm