Well, nailed that open, and the day pretty much, eh? What an easy fade that was, my gads.
So, here's the deal. I make this statement, you can tell me I suck if I'm wrong, that's ok. WE're just about ready to lose this market, and thus lose 1000 on the S & P.
Best case here we get one more push into Oct. 1st, but either way I sold all my longs and am now officially not bullish. I'm in trader elite mode, I want to be mostly, if not all cash and I want to be nimble. I want to play the open and I want to trade the ranges. I do not want to commit to longs for more then technical bounces here. I think we're likely to start getting some breakdowns off key technical supports.
I think 800s S & P is likely before year end. We should get a wide range to trade, though, which is great even if I'm wrong. It''s unlikely to be a straight shot here either way. Just play the ranges, folks, play the ranges!
RIMM after hours got SLAUGHTERED, I mean, total death. It'll be interesting to see how far down they drag AAPL and other tech. Or, does it just set up a squeeze. I have to say, I was thisclose to buying some puts on RIMM right at the close, obviously regret not doing so, but it was the right move not to take that trade, it seemed too easy.
I think any stock disappointing will get murdered here, look out belowwwwww.
Did ya catch AONE? Nice call, eh? Nice trade. Let's see what shakes from here, I would put it on the radar as that will be one to trade on breakouts and off supports in days and weeks ahead, it should remain a pretty hot stock.
Also watch ART, which IPOed as well, has great pedigree and I suspect it gets a rush off of any real drawdown as well.
We'll see what shakes out, and thanks for all the heads up and great emails, keep 'em coming!