{+++}Today was a rollover with hint of panic but not that bad. We’ve seen worse, BUT the S&P gave up control of the 200 dma which was right around 1100. The chart below was from Sunday night’s video.
Commodities and materials sold off today and oil was especially trending lower (riggers mostly) until the Supreme Court denied the White House their wish for a suspension of drilling. The oils (not the general market) rallied on the news , but it was short lived and most of the oil service stocks closed on or near their lows anyway.
SMN and FAZ did well and MON and MOS finally softened on the bid. We had shorts in CNX and DRQ which both did well and we still carry them as shorts.
We took a profit on VCLK and a stop on THOR and GIL.
I have updated the list and here are a few names to watch on the short side, I have a sleeve full of shorts, but I want to see what tomorrow brings. See you tomorrow.
