Time to get ready for the dead-cat bounce

I must say, I was starting to wonder if we would get any signs of a bottom today, and low and behold Congressional leaders stepped out of the White House bringing tidings of great incompetence. But it was enough to get this market bouncing and bounce it did in dramatic fashion. 

I ended up adding positions in rapid fire here, because the bounce started happening as I was writing this post (hate it when that happens). Nonetheless, I’ve got the following positions:

Comcast (CMCSA) at $35.32 with a Stop at $34.80

Illinois Tool Works (ITW) at $59.04 with a stop at $57.99

and last but not least…

Aetna (AET) at $40.80 with a stop at $39.97

I also covered my short position in Clean Energy Fuels (CLNE) at $12.05 on the plunge from this morning from $12.88 for a 6.44% gain. 

Here’s the 7 Bounce Plays at work