Wednesday, 15 May 2013

1pm update - relentless new highs

The main indexes are powering ever higher. No doubt another set of short-stops just got taken out, and those bears shorting yesterdays jump have just got nailed. Precious metals remain weak, Oil has recovered to flat (from 2% down), whilst the VIX is people seek protection.


R2K, daily


The R2K is just 8pts away from the hugely important 1000 level. No doubt it'll get there...and then the 1100s..perhaps 1200s before the current hyper-wave is done.

*I got stopped out of USO earlier for a reasonable gain. I am just concerned about holding overnight, and the daily chart is still ticking lower.

I will seek to go long USO again tomorrow morning.