US equities remain weak, and despite a notable bounce, equity bears can tout that the Thurs' low has been quickly broken, and confirmed via VIX 17s - the highest level since Aug'8. Rest of the day will certainly be.... interesting.
*there was $2bn of QE fuel this morning.. a bounce was not unexpected. I'm kinda annoyed though that I didn't exit at the open.. I could have simply re-shorted already some 10pts higher. Oh well.
For me, the issue now is whether we get stuck in the Dow 16700s..or keep on pushing lower to the Aug' lows. Where we floor in the current down cycle - from Dow 17300s, will likely shape the remainder of the year.
*I'm resolutely holding short, will reassess near the close. Certainly, if we're in the 1950s, I'll probably close out.. even though the 1945/40 zone seems viable on Tuesday.
For those in a particularly doomy mood...
Over at Mt Doom...
The first snows of the autumn (at least that I know of) are making things even more contrasting... a true land of Fire and Ice.
11.41am This is getting borderline bad for the bears... at the current rate, we'll be positive by 1pm. If so..then its white flag time.