As of the close today, we’ll officially be short the S&P 500 with closes at present levels or lower.

IF YOU GET ANY TYPE OF A RALLY LATER TODAY, YOU SHOULD TAKE THE OPPORTUNITY TO SELL SOME SPU’S AROUND 1363-4, OR BUY THE SDS.

IF YOU OWN SDS, AS MANY OF YOU DO, STAY WITH THE TRADE UTILIZING THE SAME STOP.

WHAT WILL GET ME REALLY BEARISH?

AAPL…closing under 526.

SPU/BONDS…closing under 9495. The spread is currently trading @ 9545.

Food for Thought…

You should all avail yourselves of Yra’s comments last night at Yraharris.com. The main reason being, is that the RBA is in a minority of Central Banks that actually has credibility. The current board reflects market sentiment that all is not so rosy in the Middle Kingdom.

If they telegraph a weakening China tonight, the board will be risk off in the A.M. Futures Traders can take advantage of the Australian session. It has the potential to be action packed.

Oil…a risk off board would tgt.104.30. Currently, all new strength is needed over 107.50 for more upside.