The Wrap 1/25/10

{+++}The bulls gave a muted attempt at  rally and it looks to me like it was more of a consolidation day for the “bears” than anything else. We took some partial profits on some shorts and I am scanning like crazy for some good shorts for us. I just need to watch the action a bit further. The last thing I want to do is post some breakout shorts and then we get a strong recovery bounce and get stopped out, it’s happened before.

The financials still look weak, except the regionals, materials tried a bounce, and the analyst community is still trying to figure out what Apple really reported.

I have some meetings so the post is brief, sorry.

If you think commercial real estate may finally get its bell rung keep your eye on DRN as a short. not a recommendation yet, but it’s on the radar. (RISKY)