The SPY gapped down below the 200 day MA this morning tried a small rally in the afternoon but ultimately the bears took over and we closed them right on the lows. Not good action. Real estate, financials and materials took the worst of it.


On the weekend after the flash crash I said to my Dad that I thought the “error” took us where we going, just faster. It looks like I may be right. SPY 105 was the low of the flash crash day and roughly corresponds with the February low; I think that is where we are headed next. The good news is that looks like pretty good support and we have a shot at holding there.

The following ideas maybe actionable tomorrow but I urge you to use the utmost caution in these markets. We are in a market driven by macro economics, geopolitics, news and rumors, be careful. No catching knives and don’t get stubborn. On the reversal/support buys make sure to buy on the way back up through the level and use a stop on the low.

aa 11 short

crk 28 short

dlb 60 short

fslr 105 short

nem 52 short

nite 14 short



abx 40 reversal/support buy on 150 day MA

adsk 27.4 reversal/support buy on 150 day MA

alb 38.41 reversal/support buy on 150 day MA

amg 70.46 reversal/support buy on 200 day MA

anss 41.44 reversal/support buy on 200 day MA

ati 44.6 reversal/support buy on 150 day MA

cat 57.19 reversal/support buy on 200 day MA

ccl 34.13 reversal/support buy on 200 day MA

cern 79.29 reversal/support buy on 200 day MA

foe 8.25 reversal/support buy on 150&200 day MA

gdx 46.06 reversal/support buy on 200 day MA

gold 75.18 reversal/support buy on 200 day MA

hrs 43.52 reversal/support buy on 200 day MA

hsp 48.93 reversal/support buy on 200 day MA

hum 42.86 reversal/support buy on 200 day MA

infy 53.06 reversal/support buy on 200 day MA

luv 11.49 reversal/support buy on 150 day MA

paas 23.41 reversal/support buy on 200 day MA

rgld 46.98 reversal/support buy on 200 day MA

spg 78.27 reversal/support buy on 150 day MA