Monday, September 5, 2011
Europe Down Hard
European stock indexes are down from 3% to 5% today so there is little doubt that US indexes will open down tomorrow and probably close down significantly as well. If you are unable to get short near the open within 1% of Friday's close, it may not be prudent to chase the move. After all, a retest of the August low is likely to result in another bounce, which could be a shorting opportunity or a setup to go long for a more substantial rally.
Posted by Trader Craig at 12:30 PM