Monday, 13 May 2013

3pm update - weakness into the close

On balance, some weakness into the close looks likely, after what has been a very muted day. Precious metals and Oil are seeing renewed weakness after the earlier bounce. Miners are especially weak today, with GDX -2.3%




Quiet day, there really isn't much going on.

*USO in theory could be as low as 33.30/20s early Tuesday. My primary target remains 33.50/40.

I will seek to go long early Tuesday.

Stock of the day...BKS

As expected, the black candle on Thursday - along with hysteria over a possible Nook deal with MSFT, are entirely irrelevant. The company simply loses money on every book sold.