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The market popped huge and the whole move was done by 10am. Then the selling began. Like a fool or at least I feel that way right now, I thought it was the breakout I was waiting for. In fact, it turned into yet another head fake. However, this round the picture changed on a technical basis. I may be flipping the script on my trade and turning short. I’m not happy about it, but its not about happiness, its about taking the trades the market gives us and the market is telling me that something just isn’t right. I may either go short or just pull my capital off the table and wait.

FRPT – Worked today. I’m up on both my buys 6% and 4% maybe more. Continues to look good.
QCOR – Continues to march.
RT – Up a little from the fresh buy today. Watching CAKE, CPKI, and DRI
BBY – Similar trade. Retail and restaurants working.
Bought AMZN today along the lines of the retail sector play.

Still have SSO and some UYG. SSO will likely get tossed tomorrow. I cut back on my index longs at the close to today and may cut more or all tomorrow morning.

The US Dollar is rallying and crude oil is dropping that is good for retailers and restaurant stocks. That trade will continue to work even if the Nasdaq and other markets want to fall apart. URBN hit a new 52 today, but I said it looked good for a trade about 14% ago.

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