Nasdaq Down 5.98% already.....

All Indices are under extreme selling pressure with Nasdaq being down 5.98% followed by S&P 500 down 5.33% while Dow down 3.53%........

RSI are in deep oversold area in all indices.... S&P 500 41.23,Nasdaq 37.56 Dow 46.62

VIX jumped 12.4% to close @ 27.91...suggesting technical bounce???

Internals of Nasdaq was terrible with new 52 week low higher 33 than highs 10..

Last June correction Indices went down almost 9%.......

So it is becoming a popular sports as to predict how low indices will go....

What I do is look for an attractive entry point in stocks which i have monitored closely...IF the price is right...I am buying...which I did today......generally I do NOT get the low of the day which you can see with all my posted purchases......

I do change strategy based on my personal interpretation of how to position in any given market @ any given moment...NO i do not follow any pundit and do NOT factor their opinion which is always presented in a filtered manner means take the truth out but focus on that they are always correct in their assessment...facts do not support their "implied accuracy"

SO...why are the markets in downward slope...many reasons are there, First we came UP sharply since early July...so a pullback was more than overdue.......secondly there is data which is mixed @ best which gives another reason to sell or lock huge profit.......

YES...this correction will be over also like many other corrections......

In my portfolio :

Bought HL @ $3.96

Bought PIR @ $3.50

Bought TSL @ $32.07

Portfolio is AUY,BAC,COMS,GNK,HL,MRVL,PIR,TSL.....

AH FSLR ER was a miss Down AH $24.08 on AH 2.18 million shares

AH GNK ER was a beat on EPS by 8 cents and also beat in Sales CC is @ 8.30 AM....stock was down 57 cents on a AH volume of 20,259 shares......guidance to be given in the CC...

AH Futures are green ....???

AH Nikkei is Down 1.81%

BLOG does NOT give buy or sell.

Saleem