Thursday, 26 July 2012

1pm update - battling away

Bulls are fighting to hold onto their meaningless ramp. For the bears, this is not easy viewing! One major consolation for the bears today, VIX is now only -5%. In the scheme of things, that's not too much, and considering the dow was +220pts earlier, this is reasonably decline with still three hours left of the day.




There is no point exiting here, I'll hold short into next week if I have to. I won't be shaken out by what is a 100% complete nonsense ramp. Its definitely a day to stay in the bunker, and keep in mind the bigger picture.

*we have entertainment at the close..

Earnings from AMZN..and FB. Both of which could easily collapse 20%. FB though is especially hard to guess. I won't be playing either...but it will be fun to watch.