The Expected Bounce Arrives


Dow +269.48 at 17409.72, Nasdaq +97.42 at 4691.86, S&P+35.55 at 2036.09

Stocks rose around the globe, led by the sectors that recently have been beaten down the most, such as banks. Demand for safe havens eased after two days of big pressure. The dollar pared its rise against the British pound. The price of oil, which had posted its biggest two-day percentage decline since February, recovered slightly.

I don’t have much to cover tonight, but as you know I added two new shorts today: DV and CMPR.  Both look fairly heinous and the technicals appear to be deteriorating.

I did adjust some stops today, so it you are playing at home, please check the P&L.

See you in the morning.



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