So, lets talk about today

I was reminded today, that "markets bottom" when there is no where to run.

On wed, they ran to treasuries, oil and gold, And that worked. So... No bottom.

today those trades suddenly ran out of momentum "gold and oil topped out"... and they had no where to run.....

So I looked for a "turn", and reminded about how we get the "MAD MAX/ bunker Trade" just before the turn. And regardless, of oil, the xle was getting whacked.

Sure.. they interviened... but in a way, I don't buy it. we probably would have bounce on the idea that "Power lunch" was stairing at all the papers predicting armageddon, Talking about how it could be a bottom with the vix at 45, the paters, a trader said "If you are brave enough to try and buy it here, you are braver than I"

and sure enough that was it. Bears ran out of money.... Reversal