Luckily I read the picture today and aggressively bought the dip late morning and early afternoon, s@p at 888 to 890 ish. I think we are due for a bounce, so I covered all of my shorts and went agressive on the long side, focusing on energy, shippers, and some banks via BAC.
I am tempted to dip into the insurers ring with a purchase of hig, met, or lnc but I will refrain for now.
As for crude, we might see 60 but I don't think we will see the 55 that every CNBC pundit is calling for...instead I feel that oil could be pausing here before it moves higher. The truth in oil relies in the dollar in my view, so watch uup, lower dollar, higher oil.
I'm outta here, lata
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