Sunset Boulevard for Twitter

With TWTR's stock unable to muster a weekly close over $36 on the back of a much-ballyhooed CEO change, a trip back down to the May 2014 $29.50 lows is now within shot. 

In reality, Twitter is still a viable buyout target and has intriguing prospects from a long-term perspective. But the shorter-term kinks still need to be worked out, and that is what the market seems to be most concerned with for now. A possible scenario where the board market seen an uptick in volatility and weakness this summer, but where TWTR outperforms and finds some type of good low could be in the cards. 

Conjecture aside, though, the threat of a move into the $20s is enough to keep me at bay, in terms of bottom-fishing. 

Elsewhere, natural gas is gapping up again, as I have it on watch for another potential long scalp. And, overall, I am reducing exposure a bit this morning, locking in winners and keeping losses extremely small.