Tuesday, 24 September 2013

11am update - bears are weak

The market is trying to floor again, and indexes have a reasonable chance of a close in the sp'1710s. That would clarify the outlook for the rest of the week, and the sp'1730s will be back on the table. It remains largely quiet, and that will no doubt help the bulls.




There really isn't much to add.

Same old nonsense, bears have little power on the downside, and its just a matter of when the bulls are able to muster the next up wave.

Notable mover- FB, +5% in the $49s.

If the main market does hold together for a couple more years...FB will be in the hundreds. A disturbing thought...to be sure.