Markets are all set to open lower........Thanks to :
GS sell rating on Citigroup.......as they cite coming writedowns to continue for two quarters adding upto $15 billion..vs Citi claims of $8 to $11 billion.....writedowns.....
I have seen this bottomimg process...many many times...it is alway's very frustrating & depressing and looks very bleak......
I am sure that we will come out of this painful bottoming action...where one feels like "throwing UP & sell everything in frustration".......
Try NOT to be in a position of margin call or NOT to exceed your comfort level......
Some of the best buying opportunity comes when everyone is very frustrated & pessimism is rampant......sign that we may be close to bottom ???.....
BIDU is further down......
RIMM is down......
AAPL is down .....
GOOG is down.....
FSLR is down......
AMZN is down......
VMW is down......
Why do I list the above stocks......because one can start "nibbling in these @ current levels"..do not buy for "daytrading purpose but for building a position for long term"
Techs will be in "vogue again"..as Q4 is strong for techs.....so a year end rally cannot be ruled out.......
Good luck @ open.
Please do your own due diligence.
BLOG does not give buy or sell.
Saleem
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