Tuesday, 21 May 2013

10am update - morning confusion

The main indexes are a little higher, but it sure feels weak out there. The small 15/60min cycles look like they will roll lower as the day proceeds. As usual, the counter aspect is QE of 3bn or so. Very risky to short this market, not least ahead of the Bernanke (tomorrow)



So, what the best guess? Weakness into lunch, but QE will mitigate things in the afternoon.

We're seeing some opening reversal candles on gold/silver, and we are still above yesterdays lows.

As it is, I don't feel like hitting any buttons.

Oscar - on a holiday reversal


UPDATE 10.16am.. am long SLV , from 21.47, seeking low 22s late today/early Wednesday.