Monday, September 16, 2013

History stutters

On a recent post I noticed the similarity in the price action of the Russell 2000 ETF.

The dips and rallies all had a similar appearance.

Until today. Today was a high open on the news of Larry Summers and a decline all day. No rally at the end like has been the norm. All eyes on the Fed meeting this week and the possible start of the dreaded taper of Fed buying of Treasuries.

But. I don't like the smell of things.  I smell a skunk. We may get our Sept. swoon after all.

I know it is early. But my bear woke up today.....
It may be just the hangover from last week. I had my best trade ever with GNK. The chart tells the story. I was also long DRYS, EGLE, and DSX. I closed them out during the week as they moved higher. I saved GNK for last.

After a big trade is over I always feel a let down. So maybe that explains the way I look at the markets today.....

But......Bot some TWM and VXX....

careful out there,

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