I'm feeling a little under the weather, so no charts tonight. The markets reversed course today and there are a few different scenarios that could play out. This really could just be a normal pullback off a rally high, or it could turn into a lower high which could then begin a primary bear market. The way I'm playing it is to honor my stops in my existing holdings that are acting well, while nibbling on the short side / inverse funds. A few short candidates I am looking at are JNY, RUTH, MRO, CAM, and YRCW. On the inverse fund side, I like DUG and possibly FXP.
Good Trading,
Joey
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