Tuesday, 27 November 2012

11am update - sp'1400 being tested..again

Despite the econ-data coming in better than expected (such low expectations!), market is having a micro wash-out this morning. Whether 1400 holds or not this hour, is probably not that important. Underlying trend remains to the upside.



So far, the algo-bots seem content to keep us above sp'1400. I really don't think its too important if we drop under for a few hours. I'd guess we'll close near flat by the close.

Regardless, the current index moves are still 'mere noise'

McMoran (MMR), is something I used to follow kinda closely, I'd not checked it until this morning... its been an ugly two days.

Dedicated to all the patient bears out there..who like to take risks...

back laters :)