Monday, 28 October 2013

3pm update - closing hour melt

A classic day of algo-bot melt..fuelled by $5bn of QE. There aren't any sellers, just a few buyers, but its more than enough to push the indexes to new highs. Metals and Oil are both holding moderate gains, with the VIX likely to be kicked fractionally lower into the close.



*eyes on AAPL earnings at the close, could be interesting.

Certainly a quiet day, and zero reason to expect the market to slip significantly lower until the FOMC is out of the way.

Further gains into the sp'1780s would obviously annoy all those shorts getting involved right now.

I don't get why anyone would short anything at present, it simply doesn't make any sense whilst the bigger weekly/monthly cycles are outright bullish.

NFLX struggling...-4%

$300 level looks viable, regardless of further gains in the main market.