Monday 9 February 2015

Pre-Market Brief

Good morning. Futures are moderately lower, sp -7pts, we're set to open at 2048. Equity bears look to have a viable downside target zone of 2025/20 in the immediate term. Metals are bouncing, Gold +$3. Oil is on the rise after OPEC comments, +0.5%.


sp'daily5


sp'60min


Summary

*I'm not in the best of moods. Just one hour of sleep last night, and some time on the operating table this morning. If I disappear today... its because I've fallen asleep.

I'd consider a short-SLV trade, but frankly, having been stabbed with more needles than I care to think of, I don't think I should be hitting any buttons today.
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As for the market... as many thought over the weekend, we have a little weakness to begin the week. There is natural support around sp'2025/20, I don't think we'll go much under there in the immediate term.

As ever though... sporadic Greek/ECB comments are going to keep the market highly vulnerable to powerful intraday swings.
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Update from Mr C.


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Notable early weakness: AA -2.3%... really having some problems lately

TWTR, -1.6%.. naturally cooling/minor retrace after the big earnings gains
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back at 10am.... (perhaps)