18/05/10

Opened long position on the reasons of:
1) sharp financial sector recovery. Exactly banks and isurers were the leading laggard of the morning, cause of bearish Meredith Whitney comments.
2) bullish internals w/ no $ticks below -400 at the moment of the entry.

But the market have easily continued to plunge and internals soon became bearish. Note, that the session was started w/ $add plus 2k+ but finished w/ $add on minus 1.6lk - tremendous breakdown. The reason of the trade default seems to be weak internals. Financials, indeed, were even not the weakest sector at the open.