A Legitimate Confrontation

As the new kid on the block and clearly the hot flavor of late, AAPL is helping the Dow Jones Industrial Average to lead the market's bounce today. At the same time, the Nasdaq is lagging, even with AAPL's weighting, due to weakness in the likes of NFLX and TSLA, and benign action in PCLN. Thus, we have a bit of a confrontation on our hands, as the Dow tries to lead the market higher in another V-shape to fresh highs, which we have seen so many times in this bull run. 

Nonetheless, my shorts are largely working quite well for me, as I have cushion now on CAT CMG FB LVS. My new addition, short UAL, is bouncing on me a bit as we speak after I took down my ERY long for a win earlier. And I am still long SRS, after trimming gains on Friday. 

I am of course going to be interested in seeing if the morning gains hold into the afternoon. Recall that in a corrective market, early strength is often faded by the bell. However, this market has been uniquely resilient and I am going to respect that if we see bulls wrestle back the initiative quickly for a strong close. 

Elsewhere, BBRY is trading like the rumor-driven stock that it is, and still is much more of a very short-term trading vehicle than a swing candidate. 

And after exiting my DUST long last week for a win, I am flat on the gold miners and not too interested in trading them either way, just yet. That can change soon, though.