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Being Short. NDX closed up R2K closed down. Had to eat another small loss. I’m not convinced this is a turn to be buying in the market. The economic data is suggesting we will likely see a recession. Tomorrow consumer confidence hits the tape, lets see how it plays out.

This morning I was close to even on the BRCM puts, but the midday rally erased that. It wasn’t the best trade to take to begin with. However, if we see a market hit like today and go lower, BRCM will follow. The 200 dma for BRCM is a juicy target and I think it can get there.

The intraday rally.

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