From yesterday's comments: On Monday, the . . . housing numbers drove the indices below their Friday lows, triggering the shorts on those markets that did not trigger on Friday . . . No denying that technically, our shorts triggered, but . . . The bears need to step up and assert themselves quickly . . .
Today, more problems with the housing market (last night it was revealed that BZH is under federal investigation for fraud), and very weak durables goods numbers released before the open, had the futures gaping down below Tuesday's lows. A great way to start the day if you're short.
We really love our TC (trend continuation) set ups. Stops now moved down to lock in some profit, and we are in a "cannot lose" position on our shorts.
