In the Hole

Strange voices are saying
Ah, what did they say?
Things I can't understand
It's too close for comfort
This heat has got right out of hand
--Bananarama

Dow opens about 1000 pts in the hole after some big down markets overseas last nite (e.g., China -8%). Yes, stochastics are looking near term oversold and a trading aphorism is that bulls want to see them open deep in the red in order to stage a rally.

And it surely could happen. The fact that many are talking about it provides a bit of a nose scrunch. Moreover, talk of QE4 is already getting loud in classic moral hazard fashion.

Personally, I will view any significant lift as a potential shorting opportunity.

position in SH