Sandisk is a mofo of a stock. It sets traps with alarming regularity. I just had to get that off my chest since all you bastards were talking about difficult stocks and volatility. I will never again let Sandisk take advantage of my bunghole. That is all.
My $.02 The precedant for corrections has been set time and time again. The bears are STILL in control until we break the 61% fib line ..and arguably unless we go to a new high ! Look at the past corrections and you can clearly see that most of the time there is a healthy bounce back up to a point which we are still not at ( but very close). it took 24 days for the bottom to hit back in '06. That was an 8% correction it took 30 days for the bottom to hit back in '05. That was a 7.5% correction. it took 111 days for the bottom to hit back in '04. That was a 8.5% correction with a series of lower highs and lower lows. I could go on and history backs up that THIS is too quick for a rally to resume ! We had a 6.5% correction over the past 16 days...now tell me... with the economy as unhealthy as it is..do we really think that this is over ? I dont... And Im no permabear.. I just call it like I see it. IMHO sell the bounces ! PS. Look at the longer term charts for China and Japan.. they are VERY toppy regardless of some short term strength recently. It only take one day to fall again...