2pm update - momo stocks on the slide

Whilst the Dow holds 16k, and the sp' flirts with the 1800s, the momo stocks remain under pressure. TWTR, -5%, TSLA, -7%. Similarly, precious metals remain very weak, with Gold -$14, and Silver -1.7%.


TSLA, daily

TWTR, daily

Summary

The moves in the momo stocks remain particularly interesting, not least Twitter. There has to be a lot of holders now wondering if they should sell into year end.
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First opportunity for the equity bears remains Wed' afternoon- FOMC minutes, but then...I don't see this market as tradeable on the short side - at least not in terms of the indexes.
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2.19pm.. TSLA, FB, remain very weak..both could close -10% and -6% respectively.

GOOG remains strong...seeing it at $1046..thats pretty impressive. How about $2500 by late 2015? 

1pm update - metals remain under severe pressure

Whilst the main market is seeing minor chop, the more interesting action is in the precious metals. Gold is -$16...with Silver -2.0%. The broader weekly/monthly cycles remain deeply negative, and the June lows look set to be broken. The mining stocks will naturally react...to the downside.


GLD, daily

SLV, daily'3 - H/S

Summary

The metals remain a market unto themselves, as do the fanatical gold/silver bugs who still don't understand..and remain in outright denial.

Regardless of any minor bounces in the days ahead, the primary trend remains starkly to the downside.

I like the H/S formation idea, if correct, SLV to the 17/15 zone within the very near term.

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*I'm short the metals via SLV, will seek to hold broadly short all the way into 2014...where Silver should in the mid/low teens.
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1.32pm.. TSLA remains a notable mover, -$10 @ 125.  Not long until my target zone of 110/100 is hit !

12pm update - do you see a pattern?

The main indexes are holding moderate gains, with Dow 16k, Sp' 1800s, and the Nasdaq due to hit the 4000 psy level. Metals are unraveling, with Gold -$13, and Silver -1.7%. There is a second QE due today..and another sig' QE tomorrow. Equity bears...haven't a hope.


sp'monthly8 - QE periods

GLD, daily

Summary

It remains the case that whilst the Fed is throwing $85bn a month at the US capital markets...the broad  trend will generally remain to the upside.

On what is a sleepy Monday...I think the following puts things into the.correct perspective

Do you see a pattern?



Can you resist the cookie.......I mean...not shorting on QE day?
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VIX update from Mr T.



Ahh, so VIX opex is at the Wednesday open.  Indeed, market to rally into the FOMC minutes, Wed'2pm..and then a micro sell down..if only 1.5% or so.

time for tea :)
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12.29pm.. Metals..and the momo stocks remain very weak.. with Gold -$16.... FB -4%, TSLA -7%.

Certainly..this Monday is infinately better than last Monday!