As I expected, the market lost its steam. Seller stepped in and they were selling. Stocks struggled to rise. Durable goods orders slid as expected. Today morning I bought my SPY puts to ride this downturn. At this point it seems like the market is trading in a range within a bear market. We may re-test 112 level.
Happy trading!
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Lets very well hope that these are just “echoes” and not the full force financial crisis we experienced in 2008. I feel that if the EU wants to be a united supra-nationalistic organization then they should most likely come up with a solid financial plan TOGETHER to combat this impending financial scare. It will be interesting to see if the EU can pull themselves out of this 18 month drought – personally i dont think they can because they lack the unity and trust. Oh well, here we go again…
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