Friday, 24 August 2012

10am update - weakness continues

Nothing dramatic, volume remains light, but the underlying momentum remains down, and likely will until the middle of next week.

*as I type, on clown network, the hostess (Melissa Lee) almost falls out of her chair when some guest analyst touts sp'1100/1000 next year due to 'a coming recession'.


sp'daily5


Summary

Not too much to add really, we're still on the slide...micro-rallies are being sold into, and it looks like the algo-bots are no longing able to melt this nonsense back upward.

First target remains 1390..then 80'.
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Back at 12pm.