No Follow Through, But An Unchanged Market Can Work Too

U.S. stocks finished little changed Thursday, pausing following two days of tumult spurred by fears over Chinese growth.  Energy stocks tumbled after oil prices fell to a six year low.  The S&P 500 Energy index lost 1.4%, notching the biggest decline among major S&P sectors.

We”re out of the GDXX trade at a nice profit and I kicked some UGL today.

I added two new stocks today, WMB as a short and I re added TPX today but it didn’t trigger yet. Watch TPX going forward because the housing and housing related etf (XHB) broke out today, so maybe there is a move to be had.





Crude is a mess right now and it broke the all important $43 level today.  Take a look at the chart below. As you can see its on critical support. It may be oversold and could bounce here, but its just as possible for it to rollover hard into the high 30’s.


Yesterday was a terrific rebound day for the market, but it better start building on those gains or things will get ugly again in a hurry.

See you in the morning.

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