http://www.stockrake.com

My index short trade is getting hit today. The markets are doing a very large morning-afternoon bounce. This will probably get me to cover those shorts eod if it closes at these levels. If by some miracle the market sells off into the close I’ll hang on to the shorts or take the profit.

I didn’t think the bull was dead, but I did think we might get two days in a row to the downside for the first time in whats seems like forever.

Watch the COMPX 2552 level. If that cracks we could sell down the rest of the day. I’m using that as a mark to buy QQQQ puts.