I was just waiting to buy the dip, before the close, but it vanished. I'll wait in cash, opportunities will come later.
Shorts, especially those on ET, make the mistake of shorting selloffs when there is no compelling cause for the selloff. They make a few points, get greedy, and get squeezed. The big funds that move the market realize this and start buying, inducing a short squeeze and a very abrupt rise in stocks. If there were a really serious problem then you can justify going short, but there were no such serious developments this morning or yesterday.
tech was what really brought down the market and also Merril Lynch.so there was a reason. you needed to short the open,not wait until it sold off to short. BRCM,AMZN,RVBD all getting spanked.
Merrill story wasn't a big deal. It was already assumed b4 earnings there would be some problems, and sure enough there were.
The bulls are really a little bunch of fucking bitches. One down day and its whaaaaa whaaaa save us save us. Fucking pussies.
Could be...who knows....funny thing is the fed is in panic mode. Anytime the mkt goes down hard there are rumors the fed is gonna come in and save the day. Does not set a good precedent. At some point they wont be able to cut rates anymore....at that point the mkt will get absolutely destroyed. Todays move off the low was comical. Touch lows and rally 28 handles in the sp based on some rumor. Not sure what people think as the last fed cut obviously didnt do th trick.