Lazy Trade: Long & Short
First-off, I just want to express my condolences to the families affected by last nights shooting in Aurora, Colorado. My prayers are with you all, and still, even in the midst of tragedy, never forget that the unseen hand of God is still at work.
As you all know by now, the market is selling off pretty strong today, but don't discount the possibility that we are forming some sort of inverse head and shoulders pattern, or something else. As I've noted in recent posts, the gap-down days tend to be extremely hard to keep together, and more so, to close at the day's lows.
So be careful, because these are the kinds of conditions that tend to frustrate the bears the most.
With that said...
Here's today's Lazy Long and Short Trade.
LONG: Splunk (SPLK)
SHORT: Sonic (SONC)