The buyers aren't giving up too easily this morning. The market saw good dip-buying, particularly in small-caps that went green for a few minutes, but rolled back over and is now struggling. Should it take out the opening lows, I expect to see selling pressure increase quickly.
As I discussed in my opening post, I'm moving to a more defensive posture. I've taken some Direxion Daily Small Cap Bear 3X Shares (TZA) and I am cutting long exposure. I'm still trying to find short-term bounces to trade to the upside, but my time frames are much shorter....117 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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