We have to be selective out here. The names that were working last year are not the names or sectors that are working this year.

Meanwhile, downtrends that have been in place for a year or more are starting to find their footing. And when you add in a relatively high short interest, if the worst is now behind us, then names like the one I'm trading today have the potential to surprise to the upside.

In today’s Daily Digest, we’ll review the following:

1. New position in XLP.
2. No adjustments are needed today.
3. Closed ITB position.
4. Current status of open campaigns.
5. Volatility Snapshot.

Let’s dig in!

In my mind right now, it's a bear market in stocks until proven otherwise.

But as everyone's favorite cable TV financial prognosticator Jim Cramer says: "There's always a bull market somewhere."

And one of those places appears to be in the energy and oil sectors.

Today's trade has a chart that appears to be ready to break out of a three-month base on its way to new decade highs.