The futures are pointing to a nasty open this morning but I don’t think many of you will be surprised by that.  I suggested yesterday that the market was showing some signs of stress.  None-the-less a morning reversal is just plain rude!  Try not panic.  Look at the price action of current positions and make solid business decisions not emotional ones.

Trade that have reversed south I will trim away today not wanting to hold them through the weekend.  There is also a good chance that I will be taking some profits today and I think it would be wise for most of th members to do the same.  There is a good chance I will close the trades in BP an MU.  There is nothing wrong with the charts I just want to reduce risk and bring in some gains.

I doubt I will sell the positions in KO but and WMT but I won’t rule out trimming them back to capture some gains.

Please keep in mind that any is possible.  Even a full rally back to the highs is not out of the question.

There will be no entry video on these trades.