This is some of the unhealthiest digestion/consolidation I have seen… the market has completely ramped, with the S&P going from 1160 to 1260 in such a short time. Naturally, some digestion, which one could argue is what we are seeing now, would be nice. However, I don’t think what we are seeing now is digestion. This feels like a bull trap. Yesterday, morning and afternoon, the market felt very heavy. However, a rumor came in and we ran. But, we sold off into the close. Today, the same felt true, combined with a gap down. This just feels… wrong. What I think we have and are going to see is a buy the rumor, sell the news type of deal. Are the Europeans really going to introduce something entirely groundbreaking tomorrow or Friday? Expectations should be high, and something will be done, but it has probably already been priced in. Otherwise, we would probably be trading 20% lower.

In other news, I think the people who are buying AMR are going to be very disappointed. Risk reward to go short is looking attractive, especially if AMR closes red tomorrow. Also L: tea wynn x, with a side helping of tza. Looking for a few points, nothing really crazy.

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