No New Plays
Play Editor's Note: We were expecting a correction in the stock market. However, to be honest, I was not expecting such a violent move down and all in one day. The market's dive lower pushed a number of our bullish candidates over the edge. Readers need to tighten their seatbelts. Volatility appears to be increasing again.
Both the DJIA and the S&P 500 have completed a 50% retracement of last week's gains. If bulls are going to buy the dip they need to do it soon. Otherwise we might need to plan on new lows for the year. Wait for signs of a bounce before considering new positions and I would use tight stops on any new entries.