So much for "quiet holiday trade." The crowd got a bit complacent and now we have to wonder whether the irresistibel force of QE, coming most recently in the form of European Central Bank largesse to the tune of 489.2 trillion Euros, has run smack into what is now the immovable object, namely a massive and growing pile of global debt.
We are on top of two short-sale targets today: BIDU and CRM, using 102 as our stop on CRM and 118-120 as the stop on BIDU. Both have rallied into potential resistance and are logical shorts here. Remember to keep your stops on as this market retains its strangeness component.
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