Friday, 24 August 2012

2pm update - its getting dull again

Market almost fully claws back yesterdays losses  After all, we can't be allowed a down week, right? No volume, no fear....the algo-bots are back into melt mode.



So, what was it..already? 1426 to 1398, and now we're back to melt mode. This is utterly tiresome.

I suppose it could be argued those very few bears who exited at the open, are getting an opportunity to re-short right now. A simple stop would be 1427, or right 1415/20. Yet it is certainly not without risk.

The market will be fixated on the Bernanke next week, endless chatter on QE for September. Sigh.

*I'm not expecting anything in the latter few hours, market may as well close now.

More after the close.