Monday, 18 June 2012

1pm update - sleepy afternoon

A quiet and sleepy afternoon likely lies ahead for this nasty algo-bot ridden market - baring some crazy Reuters rumour/s of course!


sp'60min


Summary

Bears can NOT expect any serious downside until AFTER the FOMC on Wednesday. Shorting at these level...and at this time, is probably not the best of ideas. Patience.


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Notable stock of the day...so far...

FB, daily


The bull maniacs are chasing it higher, I'd guess it will get stuck around 33/35. Max' upside would be a complete backtest of the original IPO $38 level. Mid-term target remains the teens.

Stay tuned!