Monday, 15 July 2013

10am update - daily charts looking tired

Despite the moderately higher open, the daily charts are looking really tired. Yet, underlying pressure remains significantly to the upside, not least on the weekly charts which are now offering the sp'1700s. Oil has strongly recovered from pre-market declines.




Very minor chop to start the week, although its notable that the R2K is +0.3% @ 1039.

For the bears..this remains a market to avoid.

*I remain on the sidelines...can't short this nonsense...way too risky. Neither is going long the indexes/Oil at current levels attractive.

Probably a day to just sit out.

stock of the day....

LEAP, daily

AT & T buying them a farewell to LEAP ! Call option chains are up 1000-5000% or so, but there is virtually no open interest above 10/12 anyway.