Expected

well as expected we have pull backed after we broke last monday's lows. Right now the spot to watch is 1370.0 which is the 50 day moving average. Closing below this level will increase the expectation of more selling.

DECK

New 52 week low at the open. I am looking to cover 1/2 around $60.50 if we trade that low. Still watching

Interesting Day

Before the open the futures are down. What the problem is over the last 4-5 years have been all the great set up on a macro perspective have happened in the overnight session making it virtually impossible for the average investor to take advantage of. Now yesterday I noted that Mondays lows should be watched and if breached I would expect us to pull back, so what happened we tested the levels almost in the daytime session yesterday but it hit, so they hit it inovernight trading and now we have our pullback. So what's next? Well it all depends how the spin the pullback. Right now they are spinning it as a reaction to the FED tone of not doing a QE3. Now if this is the real perspective we are in real trouble longer term as the obvious deduction from that would be we can only go higher with the FED tricks and not by what matters which is real growth. I have been saying this forever that if the FED was not in the picture the DOW was be around 3500!!! YES sounds crazy but if you look all around the markets we just dont have the organic growth to real mark the equity market a secure long term investment. That's one of the reason Wall Street will back whichever politician that is PRO-FED! And this my friends is the true reason Newt Gingrich and Ron Paul can't get funding from the Elite rich because they are ANTI-FED, it is that simple. Well for today lets watch if we can get back into range. Yesterday we had an inside day and it is very rare to have two back to back inside days.

Mondays' Low

Monday's low is what I am watching here- If we close below it I would expect us to pull back a bit in coming days.

Cheap Options

Bought some $70 options @30 cent on AMGN. Looks like it might go but rather play by Options.

DECK

Death all over DECK- That didn't take long! The story here is end of quarter and mangers are trying to buy stocks that performed to show on their books and sell stocks that did terrible. It is just a trend - Still holding this one.

DECK

Holding a position short on DECK @66.84. I am going to be holding this for awhile.