You have to love news events. Continued merger talks pushed Us Airways (LCC) over the top this morning in the premarket (small volume volatility) on news they may merge with United Airways (UAUA).
Futures are lower waiting for economic data points. If this data falls below expectations expect some more capitulation in the market, we are still technically overbought. Trailing stops are certainly a good thing!
Greece is still a short play until their bailout is figured out and then it’s on to Europe!
Happy Trading.
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