Wednesday, 5 March 2014

11am update - morning chop

US equities are seeing continued minor chop, after somewhat weak ADP jobs, and ISM data. The market has very strong underlying upside price momentum though, and we look set for the sp'1900s within a week or two. Metals are holding slight gains, Gold +$3.



Not much to add.

However you want to count it (if you even do)...we sure ain't trending lower.

It would seem absolute madness to attempt any shorts right now. Retracements..if at all, remain so to be untradeable in my view.

Notable strength in DRYS, UAL.

Morning 'doom' from Williams

I like Williams of shadowstats, but..he is still overly doomy. 

Why would Russia want to intentionally attempt to kick the USD <70 ? Its like those who think Russia will switch off the Nat gas tap to the EU, only to result in them losing a core export/trade.

For the moment...the hyper-inflationists (inc' Schiff), should just shut up, after touting this nonsense since 2005.

Until money velocity starts rising, there is no reason to expect any sig' inflation.

11.03am...and here comes a new historic high on the sp'500.

Trans is trying to lead...with gains of 0.4%.