Market needs aggressive Fed action ????

Markets are in total disarray.......

There is a systemic problem of credit......which only Fed can solve......

Even Fed seems lost..... as to how to solve this big mess....

Markets are hanging dangerously between correction & bear market......

Markets are @ 11% + in negative territory.......

Even Jimmy the Cramer sounds "lost about market improvement anytime soon ?????

So.....where is the NEXT support ???

Dow 12,500
S&P 500 1,400
Nasdaq 2,500

I will NOT pay attention to S&P support...but will look towards Dow & Nasdaq and see if it holds........

For long term investors...they should not "lose their sleep as long as they are adding @ these bargain levels or doing $ cost averaging........

All correction or bear market always comes to an end...investors /traders only can tell after it has turned UP.......

In my portfolio I am short Canadian $ and still with that trade...& it is still working...I only know the amound earned in AM...when my account is updated......

I am still holding QID...which closed UP $1.33...so I had a gain of $1.46 per share......

Lot of stocks closed green today...AAPL,BIDU,FSLR,GRMN,NTRI,FMCN,SINA & SOHU....to name a few.

Please ensure your comfort level in this difficult market.

For traders...reduce your exposure by getting out of your WEAK stocks & losing trades.....wait for market to turn for adding to your position.....Know your stocks "firm support...and then make decision if you want to hang around to those levels...generally they are 200dma......or slightly below......

If you see a high volume selloff.....then we have a very good chance of establishing support......Capitulation is the word...which CNBC/FOX will use whole day.......

It does get painful...when bids are withdrawn from even the biggest stock...it is also known as freefall........

I am mentioning all this......who knows.....we MAY experience this ...before it is all over......

Good luck for tuesday...sometimes it is known as "turnaround tuesday"...I hope !!!!

BLOG does not give buy or sell.....follow your own pre-established strategy.

Saleem