A Nice Light Volume Day

Summer is here folks, and it’s the easiest time of the year to push stocks around and make them do what you want. Christmas and Thanksgiving weeks would be close.

The market started selling off with some purpose at around 10:45, took another hit to the downside at around 2:15, but then ripped 10 SPX handles starting at around 3:15 to close essentially flat.  The Dow stayed down about 86 points, but had been down as much as 140.  It was the end of the moth and the quarter so all kinds of tomfoolery and skulduggery probably took place in the pits.

Today we got lucky on CPXX as it got bought out by JAZZ all cash for a 79% gain. The chart got us in, luck got us out.  I also took a partial profit on YRD for +17%.

Oil backed off hard at resistance today. It hit the 50 level and was pounded aggressively.


It won’t be that easy getting through that big fat round number of 50.  The dollar was up slightly today and still looks very bullish for now.


See you in the morning.


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