About Those Sexy Rumors...

Just a reminder that for every sexy rumor we hear, such as about TWTR yesterday, most of them turn out to be duds practically designed for you to get hustled out of your knee-jerk call buying sprees. This morning, TWTR is seeing some selling at its declining 50-day moving average, with its CEO selling a chunk of shares. The stock remains in a steep downtrend with plenty of eager bulls seemingly ready for a fresh uptrend on a daily basis. But the banana peel has been slippery, thus far. Elsewhere, the market is staging a gap higher this morning. However, it has all the hallmarks of being a short covering rally in the context of an ongoing correction. IBM PCLN TSLA, among others, are notably red. Precious metals and miners are consolidating reasonably well this morning. I still retain a piece of NUGT and SLW longs with profit cushion on both, holding them and potentially adding back to them.