Nasty

Nasty action here- new lows and breaking thru support level-

STAY OUT OF LONGS

WOW

Blew through those levels. death!!!!! we hit fridays lows. so long to that huge gap up

GAP UP

Gap up is being faded HARD. Why? the debt resolution needs to go away before we really settle down. Been saying for the last two weeks stay away and wait. I bet people bought at open thinking everything is ok but we are not out till be get the debt ceiling talks over.


Look for support at 1288

Caution

That's why I said no trading till debt deal out of way- Trying to buy stuff here is crazy. Debt deal is the mover.
This could end up being an awesome long side trade but you got to be patient

RIMM

RIMM looks so weak- I remember it was just early this year it was @ $70. I know they were going to be weak soon because when I was going to get my android I said to myself is anyone buying blackberries anymore. OLD TECH!

Caution

As I been writing stay out this market till this debt issue is done- S&P getting hit hard here in the early going

Market

Market looks like it wants to close the gap and go positive- Still far off but setting up