No 2:30 jam-job into the close today folks. Nope. Today we plunged. Made my day.
What I saw today was a lot of stocks that had already made their moves back to overhead resistance (formerly support). Therefore, low risk shorting opportunities were abundant. And still are, some of them.
We made several attempts at the magical 1490 level on the SPX. The bulls were lobbing hand grenades and the bears were armed with kitchen scissors. Sure enough the bulls ended the day origami.
Metals were strong. Dollar spent the day trading lower before closing flat. Yen was off 1%.
Everything basically worked for me today. Even the lottery ticket (short AAPL) paid off. The balance of the week should be very interesting. Option expiration Friday. Heads up folks.
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