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After the overnight futures were hinting at a big gap up this morning, a more somber tone set in as we opened and have stayed in the red thus far. The VIX (volatility index) remains elevated above 30 and is on the move this morning, which is problematic for bulls looking to see the violent price swings abate. Most sectors I am seeing are basically in the red or flat so far, save consumer discretionary which appears to be the leader.
My BSFT and FIRE longs continue to act well. Both of those stocks are set up well technically and have terrific short squeeze potential. I am still short AAPL and am looking for a breach of $380 on the downside before shorting more. In sum, this market remains hell-bent on not making things easy for both bulls and bears. So, staying shifty and nimble is the name of the game.
that was a great game yestaday.little sloppy,sort of like market
My man Joe Adams was pretty shifty on this one:
http://www.youtube.com/watch?v=1qLDlv9uQHU
only a move devon hester would love. that was cool.