Tuesday, 21 May 2013

1pm update - sleepy Tuesday

The main market seems in a rather lackluster mood. There isn't any econ-data, in fact the only real 'aspect' of the day is the 3bn of pomo money out there. Noticably, the USD has lost all of its earlier gains, and that will further be helping pressure the broader market higher.




Very quiet day..and thus I have to conclude the algo-bots are back in control..and thats just going to lead to latter day melt.

A close in the mid sp'1670s remains very viable.

*I was just stopped out of SLV @ 21.80..for a moderate gain.

Will reconsider an SLV /USO long tomorrow.

On the small 15min cycle, SLV looks toppy, and I'm glad to be out. It could still close a lot higher, but the risk on the downside.

So long as it can hold yesterdays low, Silver/Gold should in theory generally rally for at least a few weeks....along with Oil