Many of the leaders took a big hit today. My bellwether stock has been US Global Investors (GROW) and that thing has officially tanked. Now if that AXR can follow suit. It will be difficult considering that 81% of the float is shorted.
We have 3 distribution days in the last 4 weeks. One more day of heavy selling and its time to go completely into cash. My long positions all acted well today, but I'm thinking about cutting them loose if we get another ugly day. It is time to be very, very careful.
It looks like that QID buy was a good one.