Scratch That

Back under 1292 on the S&P and 12700 on the DOW. The bears are back in control, for the moment anyway. Seriously, it's enough to make you dizzy. Dizzy like you want to puke on your sneakers.

No surprise that I found a number of names worth shorting today. I've balanced out my remaining longs after jettisoning the few that stopped me out. Stopped out of TOL and SLG. So much for my long real estate trade. That's alright, it never felt right.

Also stopped out of VLO. The refiners trade like shit.

As for shorts, aside from WB and LEH, some highlights include BA, NKE and IBM. Hope springs eternal. Came into the day short SYT and FRO and those worked pretty well. MON, on the other hand, stuck it to me.

Intraday I got long some FRP for a quick profit. Seems like I continue to do to just enough right to keep from getting a real job. Barely. Honestly this is the hardest market I've ever seen. Period. The whole key is to cut your losers. No time for hesitation.

I'm not entirely convinced that the bulls are done. We'll find out soon enough. Watch the BKX to find out. It's been fun to have some longs for a change but I will not hesitate to go back on the attack and start selling again.