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Another choppy day and it looks like the last of our minor stops have come to an end, as this two day sell off slowed a bit. The market goes in phases and although the market pulled up its boot straps today, I’m not convinced the sell off is completely over with, by any stretch. I could be wrong, but that’s just me. I will watch the tape closely tomorrow, as it is option expiration, but I will do little to nothing, as trading will be artificial and volume won’t be meaningful (although it will be heavy), as the computers and black boxes will have the run of the place.
Please check the P&L for any updates.
Have a great night and I will see you tomorrow.