Editor's Note

The market appears to be performing as expected but triple digit moves in alternating directions can cause motion sickness. The Dow has traded in opposite directions for the last 8 days. In theory, that suggests it will trade higher on Wednesday BUT the market appears to be headed south as May comes to a close. We are positioned heavily bearish in the current portfolio with 2 long positions and 6 short positions. I believe we are correctly positioned and after today's decline, none of my watch list stocks offered what I considered a killer entry point. I am recommending we stand aside on Wednesday and hold what we have. The FOMC minutes are probably going to produce some market volatility at 2:PM and it could be in either direction.


No New Bullish Plays


No New Bearish Plays