The market continues to trend lower. There have been some patches of buying along the way, but so far, the bias continues to point down. Currently, we are trading below the 1,183 level on the S&P 500, which I believe adds to the possibility that this market may have further to fall.

I’ve jumped in both of the trades below:

Long: Mentor Graphics Corporation (NASDAQ: MENT) at $11.05

Short: Titanium Metals Corporation (NYSE: TIE) at $17.14

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