Tomorrow won't bring much clarity but Monday after option players unwind positions we will see a lot clearer. One more big up day with huge volume and close on HOD and I once again see the bulls in the drivers seat. We undercut recent lows on big volume and end near lows... We're seeing more downside. Just stay patient and don't get too aggressive before the options smoke clears.
Stephen Roach of Morgan Stanley would disagree with you. Read his report of last Monday regarding "The Liquidity Paradox"
I hate to quote myself, but I was partially right. My timing was off, but the sell off that happened after hours was very nice. More than 4 points between 4 and 9 this evening. Very decent move.