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The worst market is one where in spite of being oversold, it cannot bounce…and so far, that’s exactly what is going on. If the market just sits for a few days, it builds another ledge…to fall off of. But this doesn’t help our wanting to short into bounces…so we remain patient.

 

Today, housing now starting to join the ugly party as a few more broke down. DHI gaps up on earnings and sells off badly breaking support. So just another area to avoid.

 

So we take another day to relax as everyone else trades themselves into oblivion. We just need better set-ups for the short side…and eventually we will get them.