{+++}Greece got downgraded by S&P following on the heels of the Moody’s downgrade. The dollar is rising rapidly and commodities and materials are getting ponded.
It’s not helping that Goldman Sachs is getting taken to the cleaners in Washington.
I’ve hedged a bit with some TZA and added to VXX, but could be out by the close if the market starts to rally.
The question now is, is this the perfect storm for the bears or not? I wouldn’t count the bulls out and this could just be another tremendous buying opportunity and I am going through my list as I write. If however, this is the start of correction we will take the hill and battle accordingly.
We have stops that are getting hit here and i do believe the 50 day moving average will be a great tool for us to analyze opportunities going forward. Sit tight and if “you dont know, dont trade”
I will be on the chat and will update if I see opportunities but we may nee too let the dust settle.
Oddly, Goldman is still green-a possible tell? We’ll see.