Holing Out

Oh no, no, no
I'm a rocket man
Rocket man burning out his fuse
Up here alone
--Elton John

Nice stick save by Hoofy's Heroes to pull market out of the abyss yesterday. The short covering rally that began midday reversed a -1000 down day on the Dow and even added the better part of percent.

The rebound leaves a sense of more unfinished downside business pending. Perhaps we're seeing it this am, with the Dow down nearly 800 this am.

Personally, used yesterday's melt to pretty much top off where I wanted to be in the miners. Also picked here and there at small positions and pockets of value. 

Will look to do more of that if prices head lower.