The suckers rally over the last week was just enough to create 2 bearish setups for us, both of which activated on last nights 730-point plunge. HMY is a Gold stock and I did express concerns that a flight to quality may put a bid into it, but it too fell over, dropping almost 10% in the session. I have my eye on Wachovia Corp (WB) but the issue here is that US government intervention could be seen into it at any time which would more than likely create an extreme gap higher. It’s simply not worth the risk. The good news is that the price action over the last week, including last nights dive, continues to help our setups form. A little more wiggle and waggle over the coming days will see a multitude of opportunities. But here’s our fills from last night and the state of the model account:
Click to enlarge
Click to enlarge
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