Monday, January 12, 2009


Markets are down pretty good here, the NDX and RUT are leading, the DOW is approaching the 78.6% retrace, the SPX is down 1%, very importantly beneath the 61.8% and looks to be headed to the 78.6% retrace at 875. Here’s a 10 minute chart:

Oddly, the VIX was down with the market being down earlier, but is moving back up a little. That’s saying caution on short positions to me.

HOG jumped to $15, but is coming back down, now at $14.30. I decided to sell just a little more if we hit $14, but will hold the few remaining puts for fun.

The REITS are getting killed, IYR is down more than 3%. I’ve been short SPG, but just exited that trade for now as it got beneath its lower Bollinger.

TLT was down pretty substantially earlier but is now moving back up into the range it’s been in the past few days.

Gold is getting hammered and oil is down too...