We had some crazy volatility today. The markets first tricked the bears by doing a BO, moving above the red line and then in the afternoon failing the BO and going all the way down to the blue line. That blue line is the trendline formed when you connect the Aug 16 lows with last week's low. The market turned at exactly today on the touch of that trendline.
Now we have formed a massive doji on the chart. Atleast the better part of today's action is nowwe know the upper and lower supports.
For shorting, I have my former trend stock- DRYS. Today it conclusively broke the trendline that has been in place for several months. I believe this a good short with target in the 60s.
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