Her rationale was the weak equity markets. Weak? You could be printing money in this market.
At least she did it at an opportune time. The dollar has rallied to a level, that it can weaken again, oil has fallen without a rally, some tech stocks are now extended, and some shorts will think that the new SEC rules on short selling may not be renewed.
And the bulls have thrown a lot of firepower. Yesterday WYNN was the perfect stock that reflected this market. It was just too extended. JP Morgan downgraded it today.
But that's what we need. We need a little churn, and a pullback to set up ourselves for option expiration!
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