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Good morning, fellow small cap stock enthusiasts! As we mentioned in this week's earlier newsletters, today we're serving up another good-looking trading idea. How good is it? The fact that we've deviated from our usual end-of-day publishing schedule to make sure you get this suggestion before the market opens today should tell you just how important - and timely - we feel this opportunity is. Give us a couple of minutes to explain, and we suspect you'll agree.

We'll dispense with any fanfare and just get to naming names - Hydrocarb Energy (HECC) is our newest trading idea for you. This junior oil play isn't like many of its peers. As you'll soon see, it's a great blend of value and growth, and a great blend of near-term and long-term prospects. More important than anything else right now, however, there’s a catalyst right around the corner.

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Well folks, there ya go. We've been warning you for a while now the market was a little too frothy for its own good, and we're paying the piper today. While the odds of a dead-cat bounce tomorrow and/or Monday are pretty good after Thursday's drubbing, we believe the damage is done - the ball is rolling, so to speak.

The chart of the S&P 500 below is what it is. The selloff pulled the index below its lower Bollinger band as well as below its 50-day moving average line. The VIX blasted past its ceiling at 13.2 and reached a new multi-month high of 17.11. Yikes.

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Let me make sure I have this straight. The Fed does nothing but maintain the status quo of its tapering plan, admits the labor market is still tepid, acknowledges the bulk of Q2's impressive GDP growth was prompted by temporary factors - all of which we already knew, by the way - and stocks rocket higher immediately after the news was released anyway? I've got a feeling the bulls were waiting to ambush the market at 2:15 pm EST no matter what Janet Yellen and her friends at the Fed had to say about the economy's current condition.

I also think it's very telling how the surge didn't last more than 15 minutes. In fact, the failed breakout attempt is more troubling than not seeing any bullish knee-jerk response to the Fed's minutes would have been. Had we seen no bump either way, there may still be some doubt about how serious the bears are here. To see the bulls run out of gas 15 minutes into a rebound effort though? It just confirms the undertow is a bearish one. Now with more folks convinced things are ugly, it'll be much easier for the sellers to justify dumping their stocks.

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Whoops. While it's too soon to say the long-awaited correction is finally upon us, today's action was certainly a step in that direction. The S&P 500 closed below the 20-day moving average line on Tuesday, for the second time in nine days. Granted, the first time the index closed below the 20-day average back on the 17th, the bulls immediately fought back and carried the index to a record high four days later. I just don't get the feeling we're going to get the same bullish response this time around, though. The first time we saw it, we could chalk it up as a fluke. To see it again just a little over a week later? More traders - too many traders - are starting to think the rally's out of gas.

Truth be told, it's not so much the market's indices slowing down that has me worried. It's the VIX and today's volume that's got me thinking bearishly here.

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Howdy folks. How was your weekend? It appeared pretty soggy for most of you. Fortunately it looks like most of the rain and crazy weather is now behind us, and the next few days should be decent ones... weather-wise anyway. For the market, I'm not so sure.

Although stocks staged a pretty impressive rebound effort in the latter half of Monday's action after the early stumble, we still can't get the opening pullback off our minds. Stocks once again exposed their vulnerability, even if the sellers didn't exploit it. Knowing the vulnerability is there means the would-be bears could take their shot at any point in time in the foreseeable future, and we still contend a selloff is more a matter of "when" rather than a matter of "if." Thing is, not everyone necessarily agrees.