Shorts couldn't believe their good fortune and simply covering their shorts. Just the reverse of yesterday's explosion down at 3:00... We expected this to bottom around 3:00 but today it was about 2:30. If you grabbed any long plays I would probably be flat by 3:50 or so. BAC seems okay to hold on the long side. With moves up to 10% on the downside, THE LONG TERM DAYTRADE was the way to fly today.
Still going flat after the close. There are just too many opportunities in the 10:15 to 10:30 area to hazard a gap in the morning.
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