PLEASE NOTE.I TAKE NO RESPONSIBILITY FOR ANY ERRORS OR OMISSIOMS.
Please do your own research and only trade if you feel completely comfortable about it.
ALWAYS KEEP STOP-LOSSES UPON EVERY WARRANT YOU TRADE AS THE MARKET MIGHT ACT OPPOSITE TO WHAT YOU EXPECT.
In the last update I suggested MTN was likely to decline,which it did the nextand made a good PUT warrant day,there after it became erratic.Remember always to keep stop-losses upon your warrants and other derivitives in case they don't pan out the way you expect them to behave.
At the moment the VIX is calming down and is now around $20,The trend is slowly down.Yesterday Moodys also downgraded Greece to Junk Bond Status and it did not have a dramatic effect upon the market,so it seems for the time being confidence is starting to build.
We are in the middle of the futures close out and although markets are volatile they seem to be returning after each move to the median.The week after the close out has in the past led to markets declining,but we are coming off a low at the moment so this might not be the case now.
The STOCHASTIC FOR NOW OF THE BLUE CHIPS SHOWS THE FOLLOWING; IN MOST CASES MOVING UP with still room for further gains for
ACL,AGL,AMS,KIO,MTN,NED,OML and SBK,All seem likely to hesitate for a couple of days then have rom for more upside. IMP is a laggard so hopefully a good CALL as it seems to be moving up
EXX and BIL has reached the top,so might move sideways for a while or reverse down as the whole upward movement is not particulary strong at the moment.,banks look better and should still move upwards
Do your own research ,as always only my opinion.
