The rallies look impressive, but the dow only rallied after hours, and all the other indexes seem to be trading at resistance. And what about that gold price!! If that doesn't move the miners in SA, nothing ever will!
Tough call. Yesterday I believe was maybe slightly overdone (500 points was a sharp) but came back to 320 odd. So today might see an even keel but could go either way. Gold price yes gonna move something but the rest? Lets see what the futures do and where we open.
There's a very good chance the U.S. could be pumping more cash into housing and other stimuli so I'm generally long-biased with tight-ish stops. CIT just went down and the market hardly blinked - everyone is addicted to the Govt Stim (tm)
My opinion i think we are going to be pretty range bound until end of November , December will be sleepy month as normal so no great. The trick now would be to catch the tops and bottoms of the channel.Dow between 9650 and 10000 ftse probably 4950 to 5200 with minor support/resistance in between.
The VIX index didn't just jump 24% without a good reason on Friday. There are more good reasons to sell the market at the moment than to buy it! I hope u did take a picture of DOW 10k because I don't think will see it any time soon.
The vix jump..sort of expected lots of data coming out over the last 2 weeks to end this week. the jump does not necessarily mean we going down just means there is a lot of volatility and if you read the market right nice time to make some money. dont know if we will see 10000 shortly but could get close also dont believe we will drop below 9650 just my opinion though