big daddy's cool hand luke 'moi' wednesday, page-24

I'm afraid Paddington that everyone is out of the market so there are no sellers left .If the news turns disastrous then the market will meander its way down through lack of interest .Those of us who are always looking to buy realise that it's not going to take much to spark some very nice rises but at this point it's hard to see what the good news is going to be .

Miners are getting creamed on the fear that the China story is imploding ,gold likewise is not really behaving like a contrarian indicator but more like an out of favour metal .

So all in all ,the ingredients are all there for upside from here but occasionally the sentimentalists get it right when things are actually as bad as they look . I guess the final nail is going to be dissapointing earnings in the US by which time every macro indicator you can look at is prettu much stuffed. I note Redbacka's point of the vix indicator not being in sync with this type of market but that's because no one's loaded with stocks ,in fact most of them are out .Nothing being risked = no fear. I'm favouring patience at this point but opportunities will come around again ,they always do