Monday, 8 September 2014

11am update - minor weakness

Many (but certainly not all) US indexes are seeing some minor weakness, but the Friday low of sp'1990 looks out of range. Metals are on the slide, Gold -$11, and this is really causing some upset in the miners, GDX -2.7%.


GDX, daily


As I will continue to say... metals looks set to take out the 2013 lows, and if that is the case, the miners are going to follow - regardless of however strong the main equity market might be.

So.. broader market is a little lower, but really.. its the same old nonsense.

Two things I've made no mention of yet... AAPL announcement tomorrow...and the even more important... Alibaba IPO. least into opex.

Notable strength: TWTR +3.2% in the $52s... headed for 58/60 by next earnings.