The Bear continues to dominate with a clear distribution day under the major indexes’ 50-day MA’s. We’ll maintain our bear bias until the market proves otherwise.
We got out of RYL after a key reversal on heavy volume. This didn’t appear to be news driven, which could mean A. it hit a level some big fish wanted out at, or B. someone knows something we don’t. The point is we’re out with hardly any loss. This is the beauty of the stop loss. Get the fuck out when danger lurks. We can always re-enter, perhaps with better opportunity as a clear pivot point is put in with today’s high.