I was wrong about OIH and SLV (intraday)

May be because correction was due or may be not. But, going long OIH and SLV turned out to be losing strategy today. Going short with SPY and NDX would have been better. Both these indices are now down better than 2%.

APPL and GOOG down 10+ today, adding to their last session losses. Correction seems to be underway throughout the market. Is this another one of those flash corrections (versus flash crash) that will last but just one day before another uptrend? But, I wouldn't be surprised to see AAPL break its last month lows in the 320s. Google has support at the 600 level.

Consumer Sentiment Index hit 70+ (2-yr high) but might be a lagging indicator. Housing sales down 1% but more vital is the fact that housing prices have been on a slide over the past few months. Shiller was on Bloomberg making his point that this situation will last for years. Need to read Shiller's book (co-authored) "Animal Spirits", which is only $11 on Amazon.com.