Thursday, 9 January 2014

10am update - UAL turns on the scram jets

The sp'500 is back in the 1840s..although clearly, we're going to see some resistance at the historic high of 1849. A weekly close in the 1850s looks highly probable, which opens up a short term peak in the 1860/80 zone before month end. Metals hold slight gains, Gold +$2



Not a particularly exciting open, but certainly, the 1820s are now falling away out of range...and we're set for new highs..once we get the jobs data tomorrow.

*unquestionably...stock of the day..perhaps the year so far...

UAL..+12% in the $46s..

 ...a mere $2 from my late spring target

10.09am.. notable weakness..coal miners..breaking under support..all of them in major trouble now.

10.20am... baring a break <1831..highly unlikely, this is just another bit of chop before the jump into new territory.

BTU -2.8%.  RIG..weak again, -0.6%

Despite the price chop, VIX is showing ZERO concern, just +1% @ 13.00