Monday, 20 May 2013

2pm update - and now the weakness

Mr Market is messing with the heads of many today, with the main indexes now swinging back to marginal red. First key support for the bulls remains around 1650. Silver/Gold are cooling down a little, but the daily reversals look pretty decisive. Oil is similarly weakening, with VIX +5%




Getting confused yet?

With mid-size POMO on Tuesday and Thursday, default trade remains to the long matter how overbought some might argue we are (as they were in February!)

*I continue to consider an SLV long, late today...or a more safer trade would be early Tuesday.