Stocks started the day on the right foot and then weakened significantly. We put in our low around an hour in to the session and recovered a lot of the losses. BTFD looked to be in full swing until we topped 2 hrs before the close and fell from there.
GOOG, LNKD, AAPL, PCLN… all got hammered today. I personally did ok, sold my JPM and SPY calls near the top, still holding LNKD $110 calls, IBM calls, AMZN SINA calls to name a few.
Futures are down a hair as I type.
What do I see for tomorrow? As I've said many times I am a big bear. We are screwed long term and I will have a post about it at some point the next week or two....