Monday, 8 October 2012

1pm update - mindless chop

Are we going to chop sideways all the way into the pointless charade that is the 'US election'? We've been stuck in a tight range since the QE spike of 1474-1430 - a mere 3% range. With the VIX still in the low teens, there is just no fear in this market. No fear of what happens after the election, no fear of anything.




I'm really tired of this market, and its only Monday. With volatility so low, its largely pointless to even be involved.

Until VIX is back above 20, there just isn't any point.

AAPL down again, but then..its still in a hugely strong up trend, and its still one of the cheapest stocks out there - relative to all the other over-hyped trash like FB.

It'll probably hold the lower channel, if not, then maybe some interesting has begun, but I'm guessing that won't happen.

Arguably, for most 'normal' traders, its surely a case of 'turn it all off, come back mid' November - in prep' for what could possibly be a very strong Santa rally.

back after the close.