It my just be me but my gut is speaking but I am fighting the urge to get short. Yes I realize it could be a ramp job of the highest order given todays significance to institutional money. But when viewed in totality, first up we had ramp job religious holiday Monday (low volume rally) followed hard upon by quarter ending shakeout ahead of tape (and portfolio) painting Wednesday.
This, along with the choppy, anemic rally of the market these last few hours off the lows is enough to draw my interest.... to fade it.
Therefore I am punting the S&P500 tracking stock, more commonly referred to as the Spiders ticker SPY, here at 106.10 with a stop at $107.06
Good speculating and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Ultrashort Russell 2K ticker TWM @ $27.50 stop @ $26.40
Long 1 unit Ultrashort Financials ticker SKF @ $24.55 stop @ $23.49
Long 1 unit i-shares Barclay 20yr ticker TLT @ $97.80 stop @ $94.94
Short 1 unit i-shares Russell 2K ticker IWM @ $61.70 stop @ $63.80
Short 1 unit Costco ticker COST @ $58.00 stop @ $60.11
Short 1 unit Vornado ticker VNO @ $68.30 stop @ $70.71
Short 1 unit Bed Bath ticker BBBY @ $37.75 stop @ $38.41
Short 1 unit Spiders ticker SPY @ $106.00 stop @ $107.06