Accounts currently long RGLD, initiated yesterday at 64.78 (5% of accounts). Start with what you know and work from there. I have no idea if gold and the gold stocks can manage any real traction with this rally attempt reprise begun today.

Initiated XLE long today at 85.48 (8% of accounts). Incredible divergence now between the Energy sector stocks (XLE) and the price of Crude Oil (USO).

Maybe we’ve bottomed, or maybe we’ll thrash about still. One thing’s for certain though, if it’s the former then leadership growth needs a darling for institutions to pump into.

After a dramatic decline and oversold levels not seen since 2011, the market indices IWM, SPY, and QQQ bounced sharply late last week and into the beginning of this week.

It’s October and panic is in the air. Technicians are flagging price points every which way lower, while back-flipping bears are numbed by their own genius.

DJIA: -334.97 (-1.97%)
NASDAQ: -90.26 (-2.02%)

On the heels of a big intraday rebound, the SP-500 (SPY) daily chart is producing an UNconfirmed reversal from the recent downtrend.

Eurozone deflation concerns abound, with the EUR/USD hitting a fresh twenty-five month low this morning. The daily chart below details the slide, with current supply levels in the ~$1.27 range. 

Big down market today – here’s a quick slice from a few of the sharpies out there…

I’m happy to announce that one Daniel Jassy of SPYderCrusher Market Research fame will be signing-on and contributing here to the CapManta blog-site. That’s all I can say about it for now. ;-)