Markets "spooked by 87 crash memory +++"

Markets are taking it on the chin today based on many "negative issues"....

1987 crash 20th anniversary is having pyschological affect....and some professional/hedgies are playing the fear.....by shorting/buying puts......

CAT made bearish comment about the US economy slowing down.....which is NOT news to anybody...but a confirmation which is enforcing selling......

I wanted to book profit in 4 position...but I was able to do it in one only.....

I sold AAPL and booked a gain of $3.20 per share......

I bought FMCN @ $57.74.......

Everything is down big today...in my portfolio also.....

I may reposition before end of the day.....to trade on monday.....

As I have been saying that market internals have been WEAK for almost a week......and today is a day of sellers taking control......to flush out overbought conditions.....

Today is a very good day to REPOSITION in strong stocks in a diversified manner...for quick trade on monday....

This market will remain "traders dominated"...so position accordingly.......

Few stocks are still green @ 11.30AM.....and they are :

PMCS (making new high today),ISRG (new all-time high on great ER),ICE,
GOOG (new high on good ER),NYX (S&P 500 inclusion),IIJI,HLIT.

I still feel that strong techs are the place to be.....markets always corrects...and then goes on to make "new highs".

Good luck on friday the 19th close.

BLOG does not give buy or sell.

Saleem