Markets rebounded smartly Wednesday as the Nasdaq recaptured all of Tuesdays 1.1% drop gaining 1.5% and the S&P 500 almost recouping its 1% decline, rising .9%. The Nasdaq finished with a CLOSING all time high with some help from the semiconductor group as merger rumors with AVGO seemingly interested in BRCM. Deals continue to pick up the pace and one can look at it with an optimistic or pessimistic view. The positive view is that firms still see good value out their in names, and the negative view could be seen as firms are rushing to acquire names with cheap money before interest rates begin creeping up. I will take the former view. That being said the old adage that you never want to sell a dull market is starting to be irrelevant. The last couple sessions have traded in a volatile fashion and that to me suggests a bearish stance. Of course my opinions are just that, and you should pay attention only to price, but this action should produce some nice opportunities for shorter term time frame traders. If you want to look at the bearish side, which seems to be pretty crowded now with big names like George Soros and Bill Gross, perhaps you can look to retail names which continue to act heavy. Stocks like KORS and SHAK lost 24 and 14% respectively. FOSL, COH and KATE slipped 6.5, 4.7 and 3.3%. Below is a name we were WRONG about in last Mondays Game Plan.

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