Tuesday, 4 September 2012

11am update - bounce due

Well, a subdued opening 90 minutes, despite the mark downs of 0.5% or so, this is not bear market weather.

The 15min' cycles are warning that a turn is due.




I bailed earlier from ALL short positions, considering the daily cycles, things just don't look inspiring right now. There is a very high chance of further nonsense talk from Draghi kicking this market back to 1410/15 at any moment.

I'd be inclined to re-short anywhere over 1410, but for the moment....I'm very content to be a spectator again.

Until we break into the 1340s..the primary trend is UP. Bears...beware.