Check out the reversal in Facebook right at 2 PM and $27.00.    In the words of Paul “Yosemite Bear” Vasquez,  “what does this mean”?

We don’t know but someone (Morgan Stanley?) had an axe to buy and spooked the shorts.

P.S.  Tough markets.

Economic data moving in the wrong direction.   Market drifting lower, no liquidity, and stocks are being tossed to and fro by headlines and tape bombs.

Some think today was the capitulation sell-off.  If only they hadn’t sold the close.

The chop may last though the summer.  Think we’re going fishing.

(click here if chart is not observable)