Monday 1 December 2014

12pm update - no buyers today

Mr Market is not starting the month in the best of moods, and a daily close in the sp'2040s looks viable.. along with VIX 15s. Metals are building gains, Gold +$34, with Silver +6%.. the lower USD is no doubt helping. Oil has turned higher, +1.2%, but Nat' gas is not following, -5%


sp'60min


GLD, daily


Summary

*considering the overnight declines, the current Gold gain is a huge swing. A daily close above the 50dma would be significant. However, unless GLD >120, this is almost surely just another crazy bounce... as has been the case for over THREE years.
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A lot of individual strong movers today.... hard to decide what to highlight...

TWTR, -4%... having lost the key $40 threshold
DRYS -9%.. seemingly set to lose the $1 level (reverse split coming?)

Oil/gas drillers continue to be smashed... SDRL -8.8% in the $13s.  RIG -6%, $19s

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VIX update from Mr P.


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time for lunch, back at 2pm