No Reason to Jump Long

Today is one of those days where it feels like every chart is moving together. It is one of those days where I'm resigned to just focusing on index trading for scalps rather than individual stocks, much in the way I do with stocks normally.

It seems like the correlation is very, very high today across the board in equities and this is not a positive development. Correlations tend to run to 1 in a bearish environment. One thing we do not want to see is precious metals and Treasuries selling off with equities. For the moment, at least, we are seeing Treasuries and equities moving with a strong intraday negative correlation. Even though there has been strength in bonds recently, on a broader scale this relationship speaks more to a correction than a huge move lower....346 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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