The bulls fumbled the ball on Tuesday and have given it back to the bears. Futures have since recovered about 10points. Let them rally a bit further. Idea is to short above $119, enter a 1% stop loss, and fahgettaboudit. Remember that last year folks were taken by surprise when the market sold off on the day after Thanksgiving. In addition, the last day of November was particularly bad, and the market closed at its low for the month.

SPY 30min / click to enlarge

————————-

IMO weekly / click to enlarge

ECA weekly / click to enlarge

———————-

LPTN.ob profile – Lpath, Inc., a biotechnology company, engages in the discovery and development of lipidomic-based therapeutics to treat human diseases in the United States. The company’s lead product candidate includes ASONEP, a humanized monoclonal antibody against sphingosine-1-phosphate, which completed phase I trials for the treatment of cancer, as well as in development stage for the treatment of multiple sclerosis, and other angiogenic-related diseases and inflammatory-oriented indications. It also develops iSONEP, an ocular formulation of Sonepcizumab that completed phase I clinical trials for wet age-related macular degeneration (wet AMD), diabetic retinopathy, dry AMD, and glaucoma-related surgery; and Lpathomab, an antibody against lysophosphatidic acid for the treatment of cancer, fibrosis, neuropathic pain, and fibrotic ocular diseases. The company was founded in 1997 and is based in San Diego, California.