Tech Issues

I was hoping that in the next couple of days the market would make a marginal new high that would really get investors excited. At that point a short position would have been a very high probability trade. Unfortunately, there were some disappointments in tech land that may not allow that scenario to play out.

Tech is the sector which managers are most overweight and the news last night was not good from Cisco or Kulicke & Sofa. That combination will make it very hard for tech to get off the mat. Its possible we will just see some sector rotation and I might still get my setup but I'm not holding my breath.

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