Better Look Over Your Shoulder……………

because their gaining on us. Those V patterns rarely fail I have to say. What goes up fast has a tendency to come down fast. The usual suspects worked again today, XME,CLF,UYG all showed weakness. They really picked on the financials though. I posted IBM today and it showed phenomenal relative strength all day. Keep it on your radar for when the market starts to rally again. There could be a $150 number on the horizon for that one. WYNN and LVS had a combined $15 point giveback today, that thought was posted this morning as one to watch. I covered the last portion of WM this morning and it was another phenomenal day in my pit.

I will be watching for some long trades if we open lower, I think the XME’S of the world are overdone on the downside and could be ready for some short term rallies. Their charts are horribly broken, and I think they go lower, but they could be good for a bounce.

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