Right now the markets are in tricky spot. We can both ways obviously but I think we are due for a bounce. The elastic band has been stretched far to the downside here and as I said last night I wouldn't be surprised if we bounce. Today we bounce off a 800 point deficit on the DOW and caught some SPY options which worked out to profit about 20% in less than an hour. My position here is caution as that could have been the bounce :) I hope not! because if that was it we in a world of hurt this week.
I do think we will bounce those and some of the stocks I am looking at will have great opportunities on the long side if we really bounce. These longs should be traded as we are no means at an ultimate bottom but nothing goes in a straight line and we have to respect that.
One stock I like here short is NTRS. It is very volatile and will get a bounce if the market bounces so be careful and have it on your radar. I liked how it bounced today and that proves we can see brutal turn arounds if we start to go long in the markets.
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