Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
These past 24 hours have been particularly brutal in terms of trend reversal. Not even 24 hours ago it appeared we had another breakout out of a wedge / descending channel – the same type seen in early January, latter February, and latter April. But the selling yesterday post 2:30 PM and this morning have not only (obviously) obliterated that theory, the ENTIRE November 2012-June 2013 trend line has been broken. Sea change.
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Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
