Bears Growl

Alas, the V recovery is a thing of the past.  Sellers came out of the woodwork today, empowering the bears again and giving the bulls ulcers.


As I look at the charts on the indexes, it looks like they want to go down and maybe retest last week’s lows.  I didn’t get a chance to check in on the volumes today, but it was clearly another day where they threw the baby out with the bathwater.

As I said last night it wouldn’t surprise me to see this thing rollover again, and it did. It happens without warning too, which can be a little scary. The fundamentals are built on sand right now and uncertainty rules the roost. We know how much the market hates uncertainty.

The indexes closed down almost 3% today and that is nothing to sneeze at. These moves seem to becoming routine lately and may continue for a while.

I added SRTY long at the end of the day today. Its the etf that gets you short the Russell, I like it better than TZA.  Obviously I am betting on a bit of a follow though lower in the Russell.

Have a great night and I’ll see you in the  morning.


Previous Post
Trading Is Getting Harder Again, So We Have To Be Smarter Again
Next Post
Low Volume Bounce Day

Recent Articles