Wednesday, 25 July 2012

11am update - Selling every bounce

The surprisingly opening gains..have not so surprisingly failed to a large extent.

VIX could explode into the mid 20s at any point.




From a MACD cycle perspective we getting kinda close to a bullish cross, but..even if we  get one, I don't think it'll last very long. Certainly nothing the bears holding short across multiple days should worry about.

I will hold short until the Thursday open at least - where I'm thinking there is a fairly good chance of a significant gap lower..maybe even as low as 1310 - if we can break 1325 today.