Insider Activity Points to More Pain Ahead

It was nice to see a rebound on Friday after the wholesale debacle in the first three trading sessions of the week. We mentioned in past columns that we have been expecting the market to weaken further, but we were definitely not expecting such a violent move downward.

It certainly was not the way we wanted to enter a holiday weekend (the only freedom most of us experienced this Independence Day was from the burden of paying capital gains taxes). But we hope no one brought undue anxiety to the barbecue. Remember what's really important.

The plunge was great news for our recommendations on (USPIX Quote)ProFunds UltraShort and the short on S&P Depositary Receipts(SPY Quote), which we wrote about nearly two months ago. ...