Hello again folks. We know it's been pretty quiet at PBT lately. Perhaps PBT and I were too busy riding the rails to bother to peck out a post or two (or earning our paychecks...). Regardless, I hope you'll find something worth chewing on in this week's review.
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Ultra Short S&P 500 ETF
If you were looking for a good entry for a new short position this past week, you missed the boat. Instead of a reflex bounce after last Friday's sell off (with the possible exception of the Dow), investors came back to the market on Monday ready to dump more shares. The selling pushed the indices even closer to their March lows. The NASDAQ Composite finally broke below its 50 day moving average (DMA), the last of our indices to do so, before popping back above it today.
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