Tuesday, July 12, 2011

What's it gonna be?

Indices dropped fast overnight only to bounce strong (still in pre-market).
At lunchtime, the bears made a comeback until the FED minutes came out. There was a hint of QE3 which made the bulls rally... for about 20 minutes. Then bears regained control, helped by Moody's, cutting Ireland to junk.

I sold my TZA from yesterday per my rules (breakeven). In pre-market they were up almost $2, but I'm looking for longer trends, so no luck this time. Got back long TZA at the close ($34), we'll see what tomorrow brings...

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