Monday, 9 December 2013

1pm update - time for some more QE

The main indexes are holding together ahead of what will be some heavy QE-pomo this afternoon. Equity bulls should be making another push to break a new high in the sp'1814s. Metals are holding moderate gains.



*hourly/daily charts both offering 1816/18 by end of today.

There are a number of Fed officials speaking across the afternoon, so...Mr Market could get pushed around a bit..but with underlying upside via QE.

Well, lets see how we proceed across the afternoon. All things considered, I think we break new highs. Underlying upside momentum remains strong.

Clown finance TV..highlighted...

SYY, daily

Sysco (SYY) agree to buy US Foods, and as one of the Najerians noted last week, there was heavy call buying recently...someone knew about the deal last week. There were $47s in pre-market, and the giant black candle is a classic example of a opening failed jump higher.

Arguably, anyone long - not least via option calls, should have bailed at the open.

1.31pm.. sp'1810..breaking a new high..very viable into the close.

TWTR still gaining, now +8.3%