Looks like a wishy washy day to me. The same old maxed out metal...

Looks like a wishy washy day to me. The same old maxed out metal stocks in London. Baltic Dry nose diving etc etc. Dow Down - profit taking? By and large the flight from the USD still seem to be the big thing putting value into the market.

Gold continues on up.
Base Metals Up:

With that said, there is still room for growth in the XJO, Gold is up - but be careful with Gold miners popping their heads above the upper bollinger. I was going to call NCM the no brainer of the day, but it is in a prime position to be slapped down a little.

The banks are worth a look - they are for the most part with the exception of Westpac on or just above the mid bollinger and have room to move. The trouble is I still am not 100% sure why they have been lagging, which makes it hard to say whether they are bouncing or simply retracing in a down trend. May not be a trade on them today, but worth keeping an eye on.


Short: No
Bounce: Tending to this as of 8:00 am
Long: Cant see it
Fade: Nope
Scalp: Always good if you are uncertain.
Sit Out: If you cant see a clear trade and don't want to scalp you way to fame and fortune, it wont hurt at least.

No Brainer Of The Day: Gold, but you will have to hunt for one with headroom that is unlikely to be hit with profit taking.