Wednesday, May 11, 2011

Be on Guard For a Sneak Attack

Be watchful for a sudden decline with little warning.  Last Friday's bearish pattern has been neutralized thus far, but until yesterday's probe of new levels has been exceeded the market remains vulnerable to a rapid resumption of the downside.  The bulls need to pull it together now!

I've covered most of my put spread positions and have loaded on the short side with ES, NQ, and TF.