A Respite from the Unrest

After a dramatic weekend and Sunday evening futures session open, you almost get the feeling that the market is taking a breather this morning on the cash open. While the GREK, Greece country ETF, craters, the U.S. tape is still well off the overnight lows in the futures market. 

Dip-buyers made an attempt immediately at the open, but the SPY (actively-traded S&P 500 Index ETF) failed to hold over $208.50, at least for now. As I write this, I see sellers are giving it a go at resetting or breaching the morning lows. 

Inside Market Chess Subscription Services, I walked into today with no equity longs. I got stopped put of my coffee long for a manageable loss, however. 

But my PCLN short has been working best, with an entry up at $1,162.28 a while back. 

I still think PCLN can eventually move back down to $1,000. But in this choppy market I need to manage winners carefully, too. Hence, I am down to a small "runner" position in the name after scaling profits.