Friday 30 August 2013

2pm update - battling it out

The market jumped from 1628 to 1636 on the comments of Kerry. The bull maniacs are now arrogantly touting a ramp into mid/late September. This seems unbelievably naive, and with still two hours left of the trading month, there is significant opportunity for weakness into the close.


sp'daily5


vix'daily3


Summary

I remain trying to ignore the smaller cycles, and will focus on the bigger trends.

I have to note, I find it utterly bizarre than ANYONE, no matter how hyper-bullish they might be about the mid/long term, would consider going long this afternoon.
-

I remain short the main market, - via LONG VIX, and would consider an exit in late afternoon, if sp'1622/20..or lower.


2.13pm.. bears just need 1626s..and that opens up a rather exciting close...possibly down to 1615.

As I'll keep asking...

Who wants to go long into the long (war?) weekend ?