Wednesday, July 8, 2009

Short term buy

Based on rather negative breadth, the odds favor a flat to higher close today.
I think there is an oppotunity to fade any opening strenght, and reverse into a long play later in the day.
Given the last few days and technical damage that have been done however, i would not hold any longs over night at this point.

In the event that we do close lower today, watch VIX - as a short term buy may be triggered on a higher VIX move.


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