Jam The Exit Doors

The volume finally returned, and unfortunately it wasn't in the bull's favor.

In the first minor pullback we've seen since September 4th (yes, it really has been that long), the herd apparently got spooked and decided to jam the exit doors this afternoon.

There is a lot of speculation on what sparked the selling, but frankly none of it really matters. What we do know is that these things tend to happen in extreme overbought conditions. I'm glad that I threw up the caution flag on Monday and more importantly that I wasn't caught with my pants down in some of the momentum stocks that reversed and rolled over today.

I hope you managed today's tape ok and paid attention to those stops when the worm finally turned this afternoon. Have a great evening!