Selling almost exhausted ....

It has been one week of relentless selling which brought all kind of sellers to lock gains or limit loss.....

Selling is looking exhausted......

Many uncertainties will be gone by tonight.....first Fed statement @ 2.15 PM will clear up their thinking & Obama will clear up white house focus..BOTH should be POSITIVE for this "weak TAPE"

S&P 500 low today so far is 1085....which is almost the same level as week of Sep 14th 2009 when it was @ 1080.15...so we have CORRECTED all the way back to Sep.....pullback to levels of 4.5 months back.......

RSI in S&P 500 is @ 37.34...quite compelling....

When it is DARKEST .....then the TAPE turns around......

BUT...there is lesson to be learned with this severe correction...always lock your GAINS & KNOW your stocks well in terms of being able to make MONEY NOT being mesmerized by headlines.....headlines generally IMPLIES all the gains are priced IN.....

Gold Down $6.90

Oil UP 3 cents

Canadian $ Down 34 tick to 93.84 US for 1 CAD.....low end of range

Portfolio is APWR,ASIA,AUY,IAG,PALM,POT,SLW,TC,FUQI call worthless

@ 12.19 following are green :

APWR,MRVL,RIMM,NTES,RCI,ISRG,BIDU,MA,V,NVDA,AMZN....

BLOG does NOT give buy or sell.

Saleem