Futures were very weak overnight, and for the 10,001st time the bulls came in and bought the market back up on light volumes. I took my short profits in the first ten minutes and let the metals run into the last hour and took the miners off as well.
I just *hate* this market action.
Consequently I took almost everything short term off the table today and booked my trading profits. I want to see what comes next. I don't think the market will decline severely yet, but like most traders I have one eye on June and the nominal end of QEII.
After the bell the Freescale IPO priced at the bottom of the range, at $18.
The US has a three day holiday weekend (Memorial Day) coming up.
