In the market analysis segment of After Hours with Option Addict last night, we discussed how yesterday’s failed rally was not a bad thing, but rather more of a positive. With prices spiraling lower yesterday, the bears we’re lured into borrowed positions, only to get stopped out today.
In short, we agreed that the least expected move, or the most “discouraging” move today, would be to rally back to where markets opened yesterday. Genius.
I’m still trying to absorb set-ups that I like here, but my current themes still reign supreme. Solars and China stocks. FXI is up big today, and the groups that are following are not of the defensive type.
I’m sticking to my guns here, and watching YOKU for an entry.
More later,
OA
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