I expect a red day. Average red day after a 4%+ up day is over 2%. We've had 5 green days following a 4% up day in a row and the odds of a 6th are very slim. This is over the past 13 years, so it's a solid trend in good markets and bad.
I wish I had intraday data, but I bet this morning's action isn't too far from the norm. Late longs try to push it up and are met with distribution from 'da boyz'. Check out the TRIN. Late day sell off as 'da boyz' book profits.
Another suicide play: QCOM Jul 40 calls at 0.65...not bad if the long-awaited breakout gets somewhere. Iparticularly like the ticker symbol AAWGH....sounds near enough to aaarghh to me <g>
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