Second consecutive day where the market sells off in the final 30 minutes of trading rather than blast higher into the close as has been the norm for the market for years now. There has definitely been a change in the attitude of the market over the last 3-4 trading sessions, I’m not sure it is the mark of a sustaining shift in the overall market, but it does mean that you can’t be as overly zealous to the long side as was permissible for all of February.
March is essentially flat on the month and it is important that you allow yourself enough wiggle room to move with this market if it does indeed, decide to sell-off and push lower.
Here’s the Stockwatch:
Long Moody’s Corp (MCO)
Long Olin Corp (OLN)
Short Chicago Bridge & Iron (CBI)
