The Markets

• The 2:30 market tell won again.  From that time to the close the S&P lost 15 points, to 806.  The DOW lost 100 points. That is decidedly not a good showing.  When traders try to flatten positions in the last ninety minutes it is not a good sign. Recent euphoria should probably be tempered.
• I will let my stops on long positions protect gains but may have to institute more aggressive stance if further deterioration develops.
• Today’s action could foretell a sell-off and I will seek protection for my recent gains.  Using inverse ETF’s is my way of doing it.  SRS, SDS and DXD may all be employed.

This will be brief note this evening due to long afternoon of outside meetings.  Here is hoping your Tuesday evening is terrific.