As I mentioned in my wrap up last evening, the 1200 level on the $SPX remains a key psychological price point for the broad market. So far today, we gapped down to 1190 this morning, only to catch a bid that has us currently up to around 1205. This market can best be described as being in a short term neutral state. Thus, I am resisting the urge to make bold bets either way. I did sell out of my $DPZ today because the stock started to drift a little too much on me.
With a 60% cash position, I will simply let things develop from here, as I am reticent to put on any further longs below 1210. I do like some long setups such as $GLW, $LZB, $FST, $PETS and $DKS, but the broad market dictates the direction for at least seven out of ten stocks on average, and to disregard that would be reckless.
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That guy looks like someone plucked out an eyebrow hair from his uni-brow motif. Or that someone told him they they goose uni-brow boys in the rectory. Or perhaps he saw a way out of the dance with the bride of frankenstein. He got some air any way he went though!
lol