11am update - back to micro chop

The opening equity weakness has already been negated, with many indexes turning fractionally positive. Energy prices remain exceptionally weak, Nat' gas -3.5%, whilst Oil is -2.9%. VIX is holding moderate gains of 7%, but still resides in the mere 12s.


sp'60min

Summary

Micro chop... as expected. With nothing much due this week... its going to be a quiet one.

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Not sure if the algo-bots are reading my earlier 'doom' post on DRYS.. but since I posted.. its now lost the $1 threshold. DRYS has never traded <$1 in its ten year history.

DRYS, daily

A real ugly drop of -19%... are rumours of bankruptcy starting to circulate? Lower oil prices... overall.. a major problem for the shipping industry.

10am update - minor opening weakness

US equities open a little lower, but overall price action is very much one of underlying upside. Metals are a little higher, Gold +$2. Energy remains extremely weak, Nat' gas -2.9%, whilst Oil -2.1%


sp'60min

Summary

So.. we're a little weak, but overall, is it nothing for bears to get excited about.

Even a retrace to the giant sp'2000 threshold looks difficult by year end. 


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Notable weakness

DRYS -6% @ $1.06... set to lose the $1 threshold by year end.

Mr Market is clearly suggestive that this company is in danger of ending up on the pink sheets! No doubt, a fair few of the penny share pumpers will be involved on this one. 'one for the brave'... you could say.
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Oil/gas drillers, RIG/SDRL, both lower by around -4%. Outlook into early 2015 remains.... dire.

Pre-Market Brief

Good morning. Futures are moderately lower, sp -5pts, we're set to start the week at 2070. Metals are bouncing, Gold +$4. Energy prices remain very weak, Oil is -1.8%, in the $64s, with Nat' gas -3.7% in the $3.60s.

sp'daily5

Summary

Well, here we go again, another week begins.

As noted at the weekend though, there really isn't much scheduled this week, and that will certainly favour the bulls.
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Notable early movers...
CHK -1.6%, no doubt due to weak energy prices
FCX -1.2%, still falling within a broad down trend from the early summer, much like energy stocks

There are minor gains in the airlines, due to lower oil.
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Econ' chatter with Gordon T Long - financial repression



Maybe this is too heavy to start the week, but it does raise some interesting issues on how most governments are now intent on seizing all wealth from the citizenry. Further, the matter of a global wealth tax... pretty scary stuff. The only way to truly escape... get offworld!
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Have a good Monday!