PLUG, daily
Summary
Sit back..and watch the stampede to exit!
-
As for main market..holding rising support..at least so far.
--
1.03pm.. PLUG -12.5%...and the retail amateurs will be starting to get real twitchy about now.
Tuesday, 11 March 2014
1pm update - pulling the PLUG
Whilst the main indexes are seeing continued minor weak chop, there is some notable free entertainment available. Plug Power (PLUG) appears to be on the turn, and the herd are all trying to make an exit at once..this is car crash market entertainment at its finest.
PLUG, daily
Summary
Sit back..and watch the stampede to exit!
-
As for main market..holding rising support..at least so far.
--
1.03pm.. PLUG -12.5%...and the retail amateurs will be starting to get real twitchy about now.
PLUG, daily
Summary
Sit back..and watch the stampede to exit!
-
As for main market..holding rising support..at least so far.
--
1.03pm.. PLUG -12.5%...and the retail amateurs will be starting to get real twitchy about now.
12pm update - minor chop
US indexes continue to see minor chop in the sp'1882/72 zone. There is notable strength in the Transports, which is close to breaking another new high in the 7600s. Metals are starting to slip, Gold now just $1 higher, and seemingly about to turn red.
sp'daily5
Summary
So..what to make of this morning?
Simply put, its just minor chop, and equity bears are still showing a complete lack of downside power. There is ZERO reason why anyone should be getting bearish ahead of the next FOMC.
More likely..the bull maniacs will claw another 1-2% higher by next Wednesday afternoon..and then maybe we'll see a turn.
--
DRYS, daily
Another fractional break below the 50 day MA, and frankly..if the main market does top next week...DRYS is going to have some real problems. I'll probably look to pick up in the summer.
--
VIX update from Mr T
Indeed...no one is expecting any 'issues' between now and next Wednesday (VIX opex)..and the big money is rolling into April or May.
--
time for tea :)
-
12.12pm... finally checked Copper...and I see its $2.95.
Should be a RED flag for anyone to recognise.
see Finviz for updates.
sp'daily5
Summary
So..what to make of this morning?
Simply put, its just minor chop, and equity bears are still showing a complete lack of downside power. There is ZERO reason why anyone should be getting bearish ahead of the next FOMC.
More likely..the bull maniacs will claw another 1-2% higher by next Wednesday afternoon..and then maybe we'll see a turn.
--
DRYS, daily
Another fractional break below the 50 day MA, and frankly..if the main market does top next week...DRYS is going to have some real problems. I'll probably look to pick up in the summer.
--
VIX update from Mr T
Indeed...no one is expecting any 'issues' between now and next Wednesday (VIX opex)..and the big money is rolling into April or May.
--
time for tea :)
-
12.12pm... finally checked Copper...and I see its $2.95.
Should be a RED flag for anyone to recognise.
see Finviz for updates.
11am update - upward pressure
US equities see some opening chop, but the underlying upward pressure is there for anyone to see. A daily record close in the sp' 1885/90 zone seems very viable. Metals are holding moderate gains, Gold +$7, whilst Oil is again somewhat weak, -0.3%. VIX is again melting lower into the 13s.
sp'daily5
Summary
Not much to add. Hourly charts suggest a positive daily close, the only issue is whether its a fractional gain..or a push to a new high >1883. Considering the trend...probably the latter.
-
PLUG is higher, but the current daily candle is warning of a top..
It will be highly entertaining to see the herd attempt to exit at the same time (earnings are due Thursday).
sp'daily5
Summary
Not much to add. Hourly charts suggest a positive daily close, the only issue is whether its a fractional gain..or a push to a new high >1883. Considering the trend...probably the latter.
-
PLUG is higher, but the current daily candle is warning of a top..
It will be highly entertaining to see the herd attempt to exit at the same time (earnings are due Thursday).
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