Monday, September 26, 2011

"Risk On!!"

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Haha, ok I could not resist.  I promise that's the last "RISK!" headline of the day. Apple has reversed 2% of its loss (from -3% to -1%) and so with that the whole market can now run.  Commodities also catching a bid after being trounced.  These are massively oversold after the action last week.. 

As an aside the 50 day (exponential) moving average has dropped from 1217-1218 to 1205-1206 area, so if we go to the upside of the range we have been in for 2 months, I will be curious if the S&P 500 stalls near 1205 or still goes to the old highs of 1220.

It is bemusing to watch the mood changes by the hour nowadays...

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