As we predicted, the Osama bin Laden rally didn't have much room to run and proved itself unsustainable by lunchtime Monday.
That's not to say your Breakout hosts have gone all bearish, but rather to emphasize our thesis and prediction that the death of the most wanted man on earth does nothing to earnings, economics or employment.
And so it was with Friend of Breakout (FOBO) and host of The Day Trade Show Don Harrold, who likens this listless and leaderless market to 2007 and says he's just looking to squeeze another 4% to 5% out of the Dow. Then he's gone at 13,300.
While he waits for the blowoffs to finally flush the toxic assets and new bubbles out of the market, Harrold says a basket of shorts should do the trick.
"I am looking for clear examples of things to short," he says, before offering a few ways to play it via ETFs such as the iPath S&P 500 VIX Short-Term Futures (VXX) and the ProShares UltraShort Dow 30 (DXD). "This is not a stock pickers market," he adds.
For more of his thoughts on the market, check out the video. And after you do, offer your comments below, or send an email to breakoutcrew@yahoo.com.
12 comments