Big Down Move

Friday a big down move happened on the markets. The news said that it was because of the fraud charge against Goldman. I believe it was a stop run. There have been many days over the past few weeks that the P/C has not been above .70. Lots of people buying protection on the long side. Well with everyone long, the market has to take out the stops placed below the market, before it can continue up. We shall see. I have a long on the YM, and yesterdays market move has moved the market back to my entry price, and closed back above my soft stop. Monday will be interesting.