ONLY PLAY OF THE DAY

Ugh, he is back and how nice was it with him on vacation? He is offering up JCP VLO and steel stocks so thanks much Jim.

The markets tried to rally and the DJIA managed to get within 35 points of the flatline, but no, the market internals, the QQQQ and the SMH all acted as the tell, and told that the rally was not going to stick. Maybe a better question for the afternoon is why the NAZ and the techs/semi's act so poorly and can't get off the floor.

My DIA short trade was not a homerun (covered too early at 111.35) , but in the low volatility environment of this afternoon I will take it, as someone I used to know used to say, its better than a kick in the head.

On a longer term basis, the Volatility indexes have come off the floor but are only trading at their 10 day SMA's so no short term buy signals from them. Short term RSI indicators on SPY DIA etc are also middle of the road so cash and daytrading seem to be the play until we get some better signals.