The only trades I made yesterday was to sell AAPL at the open (not interested in earnings trades), and put a buy stop on GLD at 106.24. That looks likely to hit at the open if the overnight gains hold.
My view is still the same; this retracement higher is not yet finished. Oil prices will continue to recover some more, and that releases some of this short steam.
I will reevaluate after the reaction to Yellen, but bear in mind we have BOJ afterwards, then month begin, then the Chinese New Year. Plenty of opportunities for mischief in squeezing shorts. Then the indexes can come down to meet their components at a 24.5% average decline.
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