Feeble Rally

The extreme put buying has only led to a feeble rally from the lows this morning. I am sticking with the trading long that I bought in the pre-market today.

Bad news from Europe is starting to be recognized so barring a worsening of news overnight the market should attempt to rally soon. The heavy issuance calendar and the weak oversold reading is tempering my enthusiasm for much more than an oversold bounce. Have a good night.

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