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Flimsy flurry


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w?s=%5EAORD

 

 

Buyers tinkering today although a lot of it was gap up stuff which will no doubt be sorted tomorrow. All Ords closed +0.8% led by IT +1.5% and Telecomms +1.2%.

 

Sizeable gains in Asia: China +1.8%, Honkers +0.9%, India +0.8% and Nikkers +0.7%.

 

 

On to UK/Europe:

 

 

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I just can't get GDX out of my mind. I think it's saying something very important and that is that we are far from bottom in the markets. IMVHO

 

GDX is made of Gold miners and they have performed worse than gold and may never beat gold. If there is a dislocation then Us Bond is the place to be in.If not Then QQQ. IMHO

 

 

Nasty is over extended so could see consolidation for another 6 weeks. IMHO

 

 

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GDX is made of Gold miners and they have performed worse than gold and may never beat gold. If there is a dislocation then Us Bond is the place to be in.If not Then QQQ. IMHO

 

 

I understand that. I was thinking more what GDX is saying about liquidity out there.....6 months ahead of time. As far as QQQ, this is picture perfect double top IMVHO. Pivot slightly exceeded and then immediately reversed down.

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well, well, the bears got a little action

 

closed out longs right after payroll # during shortened session friday

 

how nice to release a crappy # when noboby cares during the holiday weekend

 

long YM at 12650 support, id charts bullish, 12950 is a cinch for 50% retrace and maybe more

 

bears going to be sucking the hose again unless 12650 breaks, then 12k comes, but highly unlikely

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