samal: wow most of my stocks started making news lows except airlines

OneLongTrade: So far the SPX has bounced off the 50 SMA at 1335, a close below would add fuel to the fire for the bears.

444: I don't think there will be a close below 1335.

OneLongTrade: There seems to be a lot of panic around that level and both shorts are covering and new longs are pressing. But a hard break will get ugly.

realornot: Bulls just got some hot oil on its back... Ouch..... good for sun tanning!

OneLongTrade: There goes the 50 day. Let's see if the selling subsides or picks up steam. Will be telling whether this correction will be deep or not.

OneLongTrade: Doug Kass just tweeted he "rented" a long in the SPY. (Basically looking to short term trade SPY). Let's see if he's wrong or right.

444: Methinks Doug is going to be smug.

OneLongTrade: He doubled down on that rental during the 2nd dip a little while ago. 25% net long he says though his portfolio transparency needs some work

OneLongTrade: He's been short TLT since the beginning of the year (and clearly losing) but I dont' think he counts that against his equity exposure.

OneLongTrade: Think we close green on SPX. Bulls are very desperate here because they do not want a repeat of May. Tone may be changing, a counter trend

OneLongTrade: rally is likely coming.

OneLongTrade: Ended nearly green. Quite close. Bulls desperation has shown. We rally for now, bigger fall coming later this summer.