After yesterday's huge upside move, we posed the question on whether this is a dead cat bounce or a reversal of the recent pull back. Since no one has a crystal ball to tell the future, we simply remind ourselves to watch today's price actions for answer to our question. And based on the price action, the answer appears to be a resounding "dead cat bounce". The broad market sell off today clearly put it back on course for more downward move.
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Disclosure: Long SPY Put & AAPL Call Spread.
