Indices have given up majority of their gains in 7 trading days......S&P loss so far is 117 points or 13.98%......
OVERSOLD is the term which CAN be used now......
Retracement is very SWIFT & DEEP......
Financials are to be blamed for panic selling.....
My portfolio is RED.....
@ 12.13 following are green in my watch list:
RIMM,LULU,FSLR,TKC,ABX,SPWRA,DUG.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Yes I think we hit bottom. In 2002 the SPY index last low before we headed up was 81. Today we hit 81 and change, then started in an upswing.
This may be as good as it gets before the buyers come back. After hitting 81 for the last time in 2002 the market climbed 2000 points.
Best Regards
Hi Standards,
I hope ypur analysis is "right on the money"
It will be nice if we get to 10K on the Dow....
Saleem
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