Window stripping
12.24 pm A touch of reverse window dressing early as the algos explored some minor weakness to push the index down 36 points before the recent bounce which has cut that loss in half.
It's pretty dire stuff with very little volume going through.
The one interesting chart is Metals X which has finally broken out after lagging the other resources stocks especially given its copper and nickel interests and the relevant rallies in the underlying commodities over the last few weeks. I've been long this for a couple of weeks and I'm hoping for a move to 115, 120.
1.45 pm Nothing happening, of course. I sold the last of the WHA this morning at 197. It spiked as high as 204 but it's back to 193.
4.23 pm Nothing continued to happen and the index closed lower by 23 points. A pretty flat day and a flat week for me. All the best, Happy New Year!
It's pretty dire stuff with very little volume going through.
The one interesting chart is Metals X which has finally broken out after lagging the other resources stocks especially given its copper and nickel interests and the relevant rallies in the underlying commodities over the last few weeks. I've been long this for a couple of weeks and I'm hoping for a move to 115, 120.
1.45 pm Nothing happening, of course. I sold the last of the WHA this morning at 197. It spiked as high as 204 but it's back to 193.
4.23 pm Nothing continued to happen and the index closed lower by 23 points. A pretty flat day and a flat week for me. All the best, Happy New Year!
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