Friday, 23 November 2012

11am update - as expected

This certainly has turned out to be a pretty classic holiday reversal. The market was trading at sp'1343 last Friday, and here we are...sp'1403, thats not bad for low volume algo-bot melt, with a sprinkling of short-stop cascades.




I sure am glad I side stepped all of this nonsense, and that IS what it is.

Nothing has changed from last Friday, and yet we are now a full 4% higher.

*I will be very tempted to re-short @ 1410 on Monday, for a brief 4-6 hr trade.

Maybe we'll put in a double top next week at 1410
back at 12pm..for more 'melt'.