Re-Test

The market finished down about 2% today with a 90% downside volume day on the NYSE.  I mentioned needing a washout and we may be on the verge of it.  Remember, we’re looking for investors giving up on stocks and then immediately followed by a huge volume up day where investors scoop up the bargains.  But, that has to be sustained.  For now, I continue to be short the Russell 2000 and the S&P 500 while staying long good quality companies.  It paid off big today as we were up over .5%

Going on Biz Radio for a 15 minute segment at 4:15 CST.  www.bizradio.com for the stream.  I will also be doing another spot at 5:15.

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