If I was starting to see red flags about the market health yesterday it didn’t get any better today. Everything that has happened in this 7 week rally I warned about in this space. Now it’s come to pass. It’s not the time to get bullish now. There is absolutely no way I have any interest in being long now. I tried two trades today. I was successful in buying Starbux puts with the stock at $98.00. See the attached chart.

This little known moving average formula helps you nail the direction of your trades… and pinpoints major trends. Get it here for free

The stock is in an area where it has rejected numerous times, and its relative strength to the SP 500 is abysmal.  I marginally missed long calls on Newmont Mining, a gold play when the stock was at $38.90. The Newmont options ended 30% higher then my attempted buy price, so not chasing. The Starbux put options are right where I got them. I suspect Thursday or Friday may well be the top for a bit in the general market.