Monday 12 May 2014

10am update - bulls pushing hard

Equity bulls are pushing hard to break the 'jobs Friday' high of sp'1897. Metals are significantly higher, Gold +$10, with Silver +2.1%. VIX remains crushed...-3% in the 12.40s.


sp'60min


Summary

...just back...more soon...

9.56am.. EXITED CHK.... was getting real tired of that one.
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10.02am.. so..new highs in the Dow.. and Transports....SP set to follow.


10.19am.. Market in melt higher mode, and another wave of bears are going to get the big short-stop boot soon.

 The 1900s..are coming.

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10.29am.. 5/15min cycles looking toppy....

I am CLEARING the deck...

EXITED DO, SDRL, STX.... (in addition to CHK)

Zero positions...will reassess later....


To be clear, I'm not expecting a major wave lower from here...but I'm just tired...this morning is as good a time as any to exit everything..and sit back ..for a little.