Trading Journal for 3/16

6:24AM: SPX futures are at 3910:

KBE (the S&P Bank Index) is still hovering near lows:

LIPO is gapping up 54% on news of a successful phase 2a clinical trial. I’m not sure if that news is good enough to drive momentum.

6:37AM: There’s some downward pressure on the market as a whole. The gappers aren’t making progress. In the news:

• The ECB raised interest rates by 50bp
• Credit Suisse is borrowing $54b from the Swiss National Bank