QUICK THOUGHTS
- I'm looking for 127.50 - 128 on the SPY to buy. Not sure if I'll get into Nasdaq or S&P derivatives if that point comes. Probably Nasdaq as that is the stronger average. I posted my thoughts on the SPY on Sunday night if you missed it.
- LNKD scored a nice run today. Regrettably, I took the prudent route, given the weakness in the market, and sold out of my position on Friday. The overabundance of short sellers that are in the stock becomes very obvious on days like today. I continue to believe that the path of least resistance will be up here. I also believe that any substantial dip should be bought for a trade. Just do a better job than I did with it. Ok?
- The question was asked: What would it take for me to get bearish on the markets? A break and close below the March lows on the S&P would do it. Not sure if I would become bearish. I would be neutral at that point. I'd become bearish if the markets held below the March lows. That would be a bad thing for the bulls.
That's it for tonight. Working on a new article for Forbes. Should be posted within the next 24 hours.
