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Today was a horrible day on more European fears. What looked good on the charts yesterday looked horribly week today. Commodities were hit across the board and agriculture stocks in particular were hit hard. Support levels were broken, volume was heavier but still fairly anemic.
Unless Europe can get funded soon it looks like the market is losing patience fast. There aren’t any new names tonight, but I am scanning everything short and long. Here are some charts that look very vulnerable from the short side. Also, here is a post I did earlier on the agriculture space and the currencies. Please check the P&L. Have a good night. I will see you on the chat in the morning. Options expiration is tomorrow, so be prepared for a crazy day either way.
