11am update - momo stocks having problems

Whilst the main market is seeing some late morning chop - after new historic highs, the momentum (momo) stocks are having problems. FB -3%, along with the usual suspects..NFLX, TSLA. Metals remain weak, and look set for much lower levels into year end.


FB, daily

TSLA, daily

Summary

*TSLA, now -5%, downside target remains 110/100. There seems little reason why it won't at least get down to there before year end.
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I realise for those short..this remains an incredibly difficult market, but hey...its not like any of us should be surprised after all prior instances, right?

10am update - a new set of highs

The main indexes open higher..with Dow 16k, and sp'1800s. The Nasdaq Comp' looks set to follow with the big 4k. Does anyone still dare contest we won't 'broadly rally' into spring 2014? Bulls have the Fed throwing another $5-6bn today at the US capital markets.


sp'weekly8

Summary

The above outlook, which I've been posting for some months looks very much on track.

Certainly, the sp'1900s do not look viable by year end, but..does it matter?
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The notion of a significant sell down between now and year end is simply.........nonsense.
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10.40am.. the momo stocks are having issues..more on that...coming up..

Regardless...main market is fine...propped up by a double QE.

Pre-Market Brief

Good morning. Futures are a touch higher, sp +1pt. we're set to open in the 1799/1800 zone. Precious metals are starting another week...weak.. with Gold -$11, and Silver -1.1%. With heavy QE-pomo today, equity bears face the usual problem.


sp'60min

SLV, daily'3, H/S idea.

Summary

Well, here we are again. Another week. and we're set to see the sp' break into the 1800s..and the Dow 16000s.

For those that managed to read most of what I posted at the weekend, you'll already know the bears face major problems this week. There are no less than TWO doses of QE-pomo today, that might total as much as $6bn.

It will be near impossible for the market to sell lower until late Wed/early Thursday, and even then, it'll most likely be no more than 1% or so.
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*Amongst other things, I have a Silver (via SLV) short position, and continue to seek much lower levels in the metals...for many months to come.
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Have a good week everyone!