I think the Russell 2000 paints the best picture here, and a reason why I have not went balls to the wall long. I did a post a few weeks back saying to watch the mark of the beast, 666, as a spot to short into. Sure enough it turned out to be a great spot to short, before the next spike lower.
As we trade back up to breakdown levels, it might be a good spot to take profits or take on a few shorts to lower your delta. Here is the current chart of the $RUT
At the moment, I hold $GOOG, $WLT, & $GSVC. I’m also watching $PBR for a possible long here. If things take a turn here, I may add some $TZA or go back to one of my favs $DRV.
Charts are still broken, so I don’t have many actionable setups for you today. I will continue to watch the banks, the dollar, and cooper for clues on future market direction. I will also keep things light here ahead of the jobs number, and continue to pick off stocks here and there where I see fit.
I see $AAPL is green as it should be. Jobs was a visionary and built a great company with many great products I use today, he will be missed. Rest in peace Mr. Jobs.
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Got out of my AAPL calls way too soon… well what can I say, made a nice profit, steves way of saying good bye I reckon… =]
Out of all my longs now, will prolly be out of AGQ and 100% cash EOD… thanks for the extra eyes RC!
nice work on $AGQ