MORNING MOVES
Markets are off thier lows- after opening limit down on the futures but I am in no rush to buy as this picture has run before many times- we rally too early in the day and back down we go.
Weakest sectors- emerging markets, gaming, oils, shipping and brokers.
NYSE- 2540 net losers;
NAZ- 1960 net losers;
NDX- 2 GREEN;
OEX- 0 GREEN;
VIX- up only 17% at 79;
Crude and gold lower;
No rush to buy this market- IMVHO- one can scale in but closing at/near the lows today would not surprise me.
And for the longer term - no reason to try and catch a/the low-
Finally, if you feel like being nostalgic- check out this video.
posted by DAVID at
10:27 AM
3 Comments:
Good analysis. I think the Hedge Funds that have to sell stocks are laying
low to get a better price before they lower the boom.
It's interesting to watch, but I wont fall into their trap. Might nibble if there is that stealth 3pm rally & sell before the close. IMHO
Thanks for coming in.
Rick
Funds have to finish their year-end selling in October, right?
Every sector is weak. Cramer is wrong. There's not always a bull market somewhere.
Except in negatively correlated ETFs, I guess...
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