China’s PMI Was Weak - I Will Short This Rally When It Stalls Today

One Option Trading Blog http://ift.tt/1Qk7Uhv Posted 9:30 AM - Yesterday the market broke support at SPY $195. If you shorted stocks when the first hour low was breached, you made money. We have been using this tactic for our day trades in the chat room and it has been very effective. This morning the market is bouncing. The overnight news does not justify the move and I don't trust it. Resistance is now at $195. I will be looking for shorting opportunities this morning. China's official PMI's were weak. Europe's were slightly better-than-expected, but still dismal. The PBOC is pumping liquidity into the banking system like …