With major Nasdaq component AAPL regaining $116 into the bell, it appears, I elected to cut my starter position in SQQQ (ultra-short ETF of the QQQ) at $28.65 from my $29.23 entry for a loss. The theory behind the trade was that the Nasdaq would pull in more immediately. But even with premier names like AMZN pulling back, the Nazzy held in there. So, I am going to cut the position here to contain the loss, step aside, and reevaluate the tape tomorrow.
Elsewhere, natural gas may finally be putting in a tradable reversal today.
More on that and the market in general on my video market recap after the bell.