Being short baby! Today was a monster. I got more than 5% on my index trades today and I was heavy into that position. The RUT was down 2.73% Double it. NDX was down 2.47%. Double it. Ever see that guy on Crank Yankers? Even though the DOW looked the worst it performed the best in terms of percentage down 2.10%.

I held on for potential further downside in the morning. Nikkei futures are off pretty big this evening and that might cause Europe to be weak, which will help US be weak and so on. Plus we might get end of month selling into this. Moreover, the hedge funds will looking for source of funds and will sell stocks into this mess to generate cash.

AAPL looks to be in a dangerous spot. In fact alot of stocks look scary here.The market is acting as if there won’t be a bounce and that we are retesting lows at best in the indexes. The 200dma was broken on the COMPX. Last time that happened was 8-14-07 and the following day was another big selloff. 8-14-07 was also an exact low close that led to further selling so todays exact low close on the COMPX, with the 200dma break, would not surprise me if we went lower as well.

Thanks for reading

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