Thursday, 7 March 2013

2pm update - awaiting a little melt

The main indexes are basically flat lining, but as ever...a little minor algo-bot melt in the latter part of the day is often the case. Bulls can sustain a close down to 1537, and it'd make no difference. VIX is merely slipping sign of any floor yet.




Another relatively quiet day.

Watching clown finance channel 2 (bloomberg) earlier, one of their guest seemed resigned to sp'1550/60s, before the next pull back.

The big issue indeed low can the next wave go?

Best guess remains 1425/00, and that would probably take 4-6 weeks to complete.

SLV, daily2

I am long Silver again, and will hold overnight. First target remains the low 29s..which seems very reasonable within the next few days.