Except why is only up 8% while the VIX is up 10%? Doesn't sound ultra to me.

BTW, after more drama than necessary I covered my NVAX short for a modest gain. I may regret it, but BNTX is probably a safer short until the FDA makes its final call.

So he's predicting an oil bust down to $20 but a SPX melt up to $6k? I don't get it.

All of the other shipping stocks are weak too. Not sure if there is any particular culprit.

NVAX - OK, no big deal that it causes heart problems in young males. Approve it anyway. I will "take some heat", but I still think it's a long term loser.

All of the small and mid cap indexes are also above the 50 DMA, a positive for the market.

Well, that's me you are talking to, and I own it. But it's also true that even in choppy markets there are opportunities. Coal stocks are making a decisive move today after a period of consolidation. I bought HCC and also a steel stock, TMST, that broke out to a new high from a good looking pattern. Sure, these could reverse, but I think the reward to risk is favorable.

NVAX halted for some reason. I don't see any news on it yet.

It's an indication that a lot of beaten down stocks have gotten a good bounce and haven't fallen back down to make new lows. Stocks like ASAN, CVNA, TWLO, W and others have given plenty of opportunity on the short side, but on up days they can have double digit gains without it looking like much on the charts. So it seems that the short side on them is getting more dicey lately. 

I held onto some SDS from the system trade over the weekend and have shorts in AFRM and NVAX. I see some risk in AFRM, but it's a hedge against some of my longs. NVAX, on the other hand, seems like it could still have considerable downside after Friday's negative news and high volume spike down. The rest of my positions are longs, with RCMT being the star of the bunch.

BTW, can anybody tell me if LABU/LABD are based on XBI or one of the other biotech indexes?

I guess that might as well be undefeated. One loss for $23?

Hmm, it's not exactly clear what the trend is right now though, is it?

Sheryl Sandberg leaving the company.

IBD's confirmed rally was very short lived. Back in a correction they say. Maybe they can be a contrary indicator.

Yes, I definitely believe that. By the way, the $NASI got fooled for the 3rd time in a row also. 

A comment and a question. 

IBD called yesterday a rally confirmation. I was surprised and thought it might go awry. Now I wonder how long it takes for them to say we are back in a correction.

Having said that, an older chart I have shows the period from now through the first week of June being historically bullish.  Can anybody with more recent data tell me if that is still the case? I know that every year is different and these historical numbers are no guarantee.

Right. What's the 3x Bear retail ETF?

Hi Kobie, what do the P's and N's denote on your charts? Thanks.

From my experience, when I have targeted a stock to buy, it is usually better to buy in the 3rd half hour of the day than at the open. There is usually a pullback from the opening when too many buy orders are crowding in. I target 7:45 PST nominally, but watch to see if there is an upturn happening before that.

Here are the two strongest stocks I see in the market right now.

LABD is the first of the inverse ETF's that I follow to break to a new high.