What I find so interesting today and it's the age old glass half full... each sector seems to have it's own reason selling off. The brokers are not selling off because of China. That's sub prime loans. The industrial stocks are not selling off because of China they're are reflecting Greenspans assertion that a recession is around the corner and our own slowing growth- to be highlighted tomorrow with GDP revision. The bond market is not selling off because of China. The Internet stocks are not selling off because of China The safety stocks are not selling off because of China. Last year china was up 168% CAN ANYONE ON THIS BOARD IMAGINE STILL BEING IN STOCKS IN OUR MARKET AFTER A PLUS 168% GAIN! So big whoop they got a 10% correction. $26 Trillion of derivatives being used by the financial pros to boost their returns you knew it was going to end badly. But would that make airlines go lower. No BEAR market folks. It's an end of month panic and a give up the years gains but the real reasons are obscured by everyone's eagerness to blame China. It seems each of our own sectors had their OWN reasons for diving and everything aligned up perfectly for todays sell off. Now what really sucks is China just " talked " about capital controls - now that they have seen the world result can they ever do it? That's the scary part. Now on the NYSE we have a problem with how the curbs were lifted today in the final hour-- something didn't work right and I'm still digging into that. This eagerness to go all AUTOMATED on the NYSE played into that-let today be the final word on that. greedy mentality.
============== Stoney; The title of this news article is ''Exchanged'' I like chinese food, but about 20 days ago i exchanged some chinese mouse traps for some spanish peanuts. Told the manager the traps didnt work well Dont pay much atention to fundamentals like that; but if 3.5 million sell or about 315+ million do something like that, it may show up on the charts