They say you can’t break this market, they also say you can’t break an egg in the palm of your hand. If you hold an egg in the palm of your hand and apply equal force on each end, it is actually extremely hard to crack the egg– similar to the Bears trying to crack this market.
However, crack the egg slightly and squeeze with one hand and you will bust all kinds of yolks (no hodge twins).
Watch for cracks here.
My book is as light as it ever has been, and as of late, my trading activity has damn near dried up. My holdings include a nice size (underwater) position in oil, a position in $TWTR, and a new position, as of today, in the letter $X.
Hopefully, we get some decent trading action into year end, but currently I see no edge.
I will be out of the office tomorrow, but watch to see how biotech trades. Also, keep and eye on FANG– you know the Facebook, Amazon, Netflix, & Google. When you see these start to crack, stay clear of the yolk.