Top Line: The early trade in the last "half" year was to buy 'em. That only lasted for about an hour as the market jumped about 1.5%. From there it was down the rest of the day. The market is ready to go down.
The next couple of weeks are going to be pretty exciting and scarey at the same time. We expect the market to go down giving some of us a chance to unload our shorts and buy some more stock. GDX moved up so much today, we are getting nervous that we'll not be able to buy for the prices that we want. Well, GDX should drop back with the market and we Will buy more of it.
The volatility indexes dropped to fresh lows today and then reversed. With new lows Again and stocks not near their relative highs from a few weeks back, this is extremely bearish.
Remember that Thursday morning we get the employment report which could be a problem for the market but maybe not...we'll see.
Here are some more pics for you.
Jason and his friends ran the half marathon again this year.