Tuesday, January 22, 2008

01.22.08 - Did You Buy It?

If you did and are just in for the day, trail a stop at the VWAP. If you are in for a swing, there is no objective reason we MUST retest this morning's lows, "Cramer's" warnings aside. If you did nothing, that's OK too, at least you can now say you've seen a "black swan." If you have some of those in your backyard (a neighbor to my north does!), do us a favor and put them back into their pen. Yes, things will still be bumpy ahead.

XLF is up over +1.6% and the Smallcaps are just under breakeven. I see the VIX tagged 37 at the open.

Hard to add much to the long list of excellent posts today:

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