Challenging Trade Environment

My book is down a touch over 1.5 percent as I write, as risk gets sold across the board.  Today looks like a trend day down.  We saw cracks developing yesterday which is why I raised some cash but coming into the session this morning I was bullish when buyers showed reactive strength overnight.

We opening inside of yesterday’ value on the NASDAQ which typically suggests we are in a low risk environment.  The opening swing was mixed but soon a strong drive ensued with sellers behind the wheel.  This driving action by the sellers deserves additional merit for originating within yesterday’s value.  It shows strong conviction on the part of sellers.

I tried taking a long just before noon and I was looking for a quick reaction from the buyers.  It never happened and what initially looked like a normal variation type day now appears to be of the trend variety.

I am battening down the hatches for now.  I have 10% cash which I am now very grateful for as I manage my way through some sell flow.  My next move will develop slowly.

Tickers of no immediate interest, but interesting nonetheless include TWTR, FSLR, ZNGA, SINA, and RVLT.