Tuesday's short squeeze rally may not have any legs. The small cap indexes posted a lackluster bounce and the big cap indexes were up only on short covering from their components. Dow components Goldman Sachs and UnitedHealth added 94 points to the Dow but the Dow only gained 75 points. With only one Dow component reporting on Wednesday there is not likely to be another group of giant gainers. Goldman and UNH are likely to decline on post earnings depression instead of rise higher.
I am skeptical today's short squeeze will continue ahead of the debate Wednesday evening and the ECB announcement on Thursday. All of our positions are positive today and I could not find anything that I was just dying to add ahead of potential market volatility. There is no harm in waiting for a better opportunity with reduced market uncertainty.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays