Use Those Paws Wisely

In addition to covering up the PCLN short, inside Market Chess Subscription Services we also covered up most of the INTC short, an idea discussed on this main website previously as part of the correcting semiconductor sector. As tempting as it may be to chase down a plethora of shorts here, such as the rails, the reality is that the market is not in a bear market or anything close to it, yet.

And with many stocks, along with the Dow and the S&P hitting their lower Bollinger Bands on the daily charts today you have to use those paws wisely in a bull market notorious for squeezing "hole-shorters" without mercy. 

A big key for bulls this week will be to see if they can, once again, defend the 150-day moving average on the S&P 500 Index, a topic I will continue to raise in my videos as it maintains its relevance. 

Headed into the final hour of trading, we still look to have a "trend day" down, with bulls failing to reverse an intraday pattern of lower highs and lower lows. As I noted earlier, perhaps the biggest key will be if the VIX can actually avoid its usual late-day fade into selling events, which we have seen so many times before.