Last night on After Hours with Option Addict, we talked about a likely gap down in stocks today. The sentiment I was picking up yesterday gave me a bad feeling heading into today, coupled with the fact that all divergences yesterday were bearish.
Today, we’re getting puke action in a few indicators we’ve been discussing, including $EEM, $FXI, $HYG. Crude is flat, but in no mans land, and the $NYMO is in -70 area…which is pretty close to buy territory.
My top theme last night was biotech, and stated you could buy the index here, looking for a group rotation, or breakout in $IBB. Fantastic leadership here today.
I’m considering re-loading into $AAPL, also like $CYBR, and $RUBI.
More later,
OA
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