Monday 21 April 2014

1pm update - are we even open?

It remains a very quiet day, with the market trading in a super tight 2pt range since 11am. Market appears stuck under the sp'1872 high, with viable downside to 1850/45 tomorrow, if not Wednesday. Metals remain weak, Gold -$8


sp'60min


GLD, daily


Summary

Little to add, on what is a dull day.
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I am content to remain on the sidelines. Would consider a small index-long, in the 1855/45 zone Tue/Wed.
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Awaiting NFLX earnings. I'd guess there is a fair chance for a jump to 375/85 zone. I looked at the options chain, but hell, those are pricey. Even the April weekly 370s are $9 or so.