Monday 23 December 2013

10am update - battling higher

The main market opens moderately higher, with the sp' almost in the 1830s. There is nothing to stop the post QE-taper rally..at least until mid/late January. Metals are seeing minor chop, Gold -$4. VIX -3% in the low 13s.


sp'daily5


Summary

Why would anyone consider shorting this?

We're in Christmas week..volatility will surely remain low for another few weeks, and before people realise it, we could even be making a play for the 1900s..before the next multi-week drop.
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Notable mover: AAPL


The $600s look an easy target early next year. The only issue I am wondering is when we'll see a test of the historic high in the low $700s.

*momo stocks are catching a bid...TWTR in the low $60s.... FB looks set to follow within a week or two.
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