I am from the government and I am here to help. That was the news after the close today. The Treasury Dept announced some new rules to prevent tax inversion acquisitions. Supposedly they were targeted at "serial inverters" but that was a politically correct way of enacting new regulations so the public at large would think they were doing us a favor.
Unfortunately the news knocked $60 off Allergan shares and put a cloud over the market in afterhours. The S&P futures dropped to -7.50 as I am typing this.
With the market weak on Monday and now this cloud over equities, the outlook for Tuesday is starting off negative. I could not find any good shorts to recommend today and normally recommending shorts in a down market has the opposite reaction. Weak stocks are bought on down days as already beaten up.
I am recommending we stand aside on Tuesday and see what the market gives us.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays