From Super Mario to Duck Hunt

Mario Draghi, President of the European Central Bank, seems to have fallen from market grace, at least in comparison to his "Whatever it Takes" speech a few years back. 

Instead, the Euro is staging a vicious short squeeze while European Bourses (and the U.S. indices) get pounded. Of course, Chair Yellen's hawkish comments may be adding fuel to the fire. But it sure seems like the days of Super Mario are losing their luster, as bears embark on a duck hunt of actionable shorts today. 

In particular, if NFLX closes red, being the strongest "FANG" name today, I suspect the bears would have avoided fumbling. And TSLA continues to struggle at the $232 level, which we have been observing a good while as a significant price level.

Biotech continues to weaken, as the IBB is holding well below its $330 breakdown earlier today. 

With this in mind, we continue to stay nimble for Members, zipping in and out of shorts until the market gives further evidence of any kind of new, established downtrend in play. To be sure, there are some "sitting ducks" potentially in the housing retail and auto parts sectors: AAP AZO HD LOW ORLY come to mind, just to name a few. 

But when textbook head and shoulders tops like UA (and potentially AAPL) begin to play out, it would seem to suggest that the market is less inclined to trap bears and more geared toward offering up sitting ducks.