Tuesday, 10 November 2015

1pm update - remaining choppy

US equities continue to see minor chop... clearly leaning on the weaker side. A fifth consecutive net daily decline looks probable.. somewhere in the sp'2060s. USD is holding +0.4% in the DXY 99.30s. Metals are weakening, Gold -$1, with Silver -1.1%. 



Little to add.

The 200dma of sp'2063 looks an easy target. To me, the only issue is whether we'll get close to the 50dma next week.

notable lunch hour spike in Mallinckrodt (MNK), as an equity bio-bear (Mr Left, of Citreon) appears on clown finance TV, only for the market to spike the stock from the 54s to 59s in minutes.

I will only add, I've never traded any bio-stock, I see the whole sector as too crazy for even the best of retail investors. Only a very few companies - of the intl' pharma cartel, are profitable. The rest.... mostly, empty shells.

The ongoing action in Valeant (VRX) remains pretty entertaining though.

back at 2pm