• the tape needs ton rest somewhat here and find itself again.  it may do so by filling one or both of the gaps we mentioned in one of the blog posts this morning
  • until such time there is little to do, risk/reward ain't good for new trades in either direction.
  • we still feel comfortable being short SPY, CAT, and AAPL by being short far out of the money calls with January paper.
  • the dollar index is  rallying to the tune of 1.50% today but just getting near a resistance level.  above $77 it may again be enticing to add longs in the dollar, which may coincide with lower levels in stocks again
  • the stocks mentioned this morning in one of the blog posts we are still interested in…but they do have to get to their respective breakout levels we mentioned.
  • WAG specifically we like for bucket 2 long above $34.80
  • BAC we like for bucket 2 long above $7.50

 

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