Monday, 15 July 2013

3pm update - melt into the close

One of the quietest trading days in months..perhaps the year. There is no reason why the bots won't be able to melt this higher into the close. VIX is -2%, and struggling in the mid 13s. Oil is holding moderate gains of 0.4%, after early declines of 1.2%.



Very quiet day indeed...and these are simply prime conditions for algo-bot melt.

Unquestionably, anyone shorting the indexes into this plain crazy. There is NO sign of any turn..never mind the fact that consensus is for the mid sp'1700s anyway.

Yours...on the sidelines, and contemplating the weeks ahead