After yesterday's little rally, it seemed like the market dodged a bullet. Up until now, the script had been written such that rallies, whenever and wherever they begin, have some staying power. But the bears put paid to that script today, as the market closed at the lows, at a price not seen since May. With last week's lower high and a lower low in the forming, we now have the kind of setup that happens when markets start dropping waterfall-style. The market has been rolling over for almost a month now, and it could pick up speed at any time. The saving grace is that the close on the S&P was at the 200-day moving average, where a bounce may occur.
| Current Holdings |
| Ticker |
Basis |
Closing
Price |
Perf. |
Sell-Stop |
Add'l Exit Guideline |
Chart |
| NVAX |
2.62 |
2.63 |
+0.4% |
2.62 |
N/A |
Chart |
A couple short ideas for tomorrow.
New Trade Ideas
| Ticker |
Entry |
Exit A |
Exit C |
Chart |
| ZSL (Ultrashort Silver) |
10.14 |
9.74 |
N/A |
Chart |
| SKF (Ultrashort Financials) |
46.27 |
44.39 |
N/A |
Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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