Stocks erased big gains Monday after investors lost some of their enthusiasm about China’s decision to let its currency appreciate against the dollar. Sounds like the markets in general were pretty unappreciative.
This is the fourth session in a row the Dow Jones Industrial Average has failed to close more than 25 points from its open. The bulls and the bears are having a very difficult struggle trying to gain ground in this low volume, low volatility setting.
ExactStockPicks Portfolio Update
We were able to make on one play today. We shorted 100 shares in Cephalon Inc. (CEPH) Take a look at the following chart.
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Disclosure: No positions