Tuesday, 27 November 2012

1pm update - still patient

The main indexes are a touch to the upside now, especially the Rus'2000 small cap, with the Transports also showing continued moderate strength.




As noted this morning, best guess for the Tuesday close is somewhere around sp'1412/15. That would bring into close reach, my primary target of sp'1425 by late tomorrow/early Thursday.

VIX remains low, dollar is holding the USD 80s.

All the pieces on the chess board are almost in place.

Max' pain for the TVIX holders...probably around 83/80 cents, within the next 7-10 trading hours.

Not that I've ever meddled with the 2x lev' VIX instruments!