SOLD PLD $11.52SOLD JADE $3.61
SOLD FULT $8.38
SOLD BX $13.95
SOLD BPZ $6.64
SHORT TRK $14.02
SOLD 1/2 HF.TO $5.94
COVER CKSW $5.38
COVER FCS $7.57
COVER 2/3 STEC $20.83
COVER PGI $7.63
COVER 1/2 LXU $12.34
COVER FCS $7.57
COVER PVX $6.09
The bears were out to kill today and luckily I was on the right side. I've been adding shorts the last few days and the bears have been killing it, right from the open today. I took some nice profits on the short side late in the day today and will be looking for some continued weakness the next few days, although we may get some neutral range trading or a small bounce.
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Everyone is fleeing to the US$ for safety. Is the bull rally over for the year? I think there is fear on two sides of the markets: those fearful of jumping in now with cash after these last big days of pullback, and those fearful of giving back profits gained over the past few months. Those who have chased this market higher the last week or two have been slaughtered this week. In the meantime, those who have held positions since the March lows are up +50% and are probably taking profits. Is everyone leaving the party and will there be people coming back soon? Markets are entering in oversold territory and only time will tell if buyers step in again to buy this dip. If not, watch out!!
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