Stocks were sold hard in the overnight and at the opening of trade in New York.

And then as the day progressed the campaign to turn stocks and rally wore on, with the major indices unchanged or in the green at the close, led by the bubblemeisters in tech.

Like a dog returns to its vomit.

Gold and silver were slammed, hard.  

The euro was sold to a 20-year low, and as a result, the DXY index of which the euro is the major component soared to the 106+ handle.

I came in short from the weekend, expecting some selling to carry into the opening, and covered those shorts in the first thirty minutes.

I did take some initial, lightly held trading positions in the usual suspects later in the day during what felt like capitulation for at least the short term. It may be rough to hold, much less build upon.

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