THE OPEN
Not much to say besides the fact that the markets appear to be in melt down mode again as lots of folks are probably in forced liquidation state yet again.
All sectors red with the exception of EFA and FXI- worst ones include metals, ags, internets, banks and homies.
Market internals started green but have since flipped to red and show about 2,000 more net losers between NAZ/NYSE.
Keep an eye on the recent low at/near 840- if that gets taken out it could get lots worse as most folks seem to expect zero.
posted by DAVID at
10:42 AM
6 Comments:
Someone was joking on the H&S pattern, SPX target -40... :)
Nah - I will cover all shorts at SPX 0
David...what are u trading now?
SDS QID QLD TWM UWM
Well, they say when it looks the bleakest that is the time to start buying. I think I'll hold-off a little while longer. But now that you are calling for the markets to go to zero and Kirk (over at the Kirk Report) is also getting very negative that has to be a sign we are nearing a bottom!
My call for zero is intended to be a joke- and with Cramer calling for the end of "long term investing" at SPX 850 - I suspect it may be a good time to average in- of course at SPX 1575 - IT WAS A GREAT MARKET PER JIM
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