SO...How BAD was IT ?????

Markets were staring @ economic data's which came below expectations....NOT the first time BUT reaction was severe.....

October did not help the sentiments either so lot of selling took hold & rest is known.....closing @ lows of the day......

Internals of the markets were far worse than closing numbers...here is the lowdown :

Declining volume led by 18.9 to 1 in NYSE & 21 to 1 in Nasdaq...i do NOT recall looking @ this kind of ratio????

Declining stocks led by 5 to 1 all over......

This selling has brought many pundits AGAIN making DIRE predictions for the market straight ahead.....

Carter Worth after being WRONG for months NOW knows that we are heading straight to 975 in S&P.....

Guy Adami the winner of missing the entire RUNUP..now knows exactly where we are heading..straight to 950....remember he use to say 905 for last 4 months????

Cramer thinks we are heading straight to 9,000 in Dow which is a drop of another 500 points???Cramer has NOT called the market corrections with any degree of success.......

So where we are in Indices and where we MAY find support :

S&P 500 closed @ 1029.85...50 DMA 1020.73...support 1017 area

So WHY did we went down so sharply & no buyers????I think there was a LEAK that jobs report will be worse than expected loss of 180K...so GS came UP with their SECRET info & predicting that 250K will be job loss...I think GS will come close..but MAY still miss the mark????

Jobs report MAY bring more selling...then buyers SHOULD step in @ these low RSI numbers...45.78 RSI for S&P......

In my portfolio :

Sold GSS

Portfolio is GNK,HL,MRVL,POT,RIMM....

AH NIKKEI is Down 2.16%

AH Futures are all GREEN ????

BLOG does NOT give buy or sell.

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