Hedge funds are in total control of markets......There is no apparent reason for today's weakness...only reason is "because they COULD"....
Euro UP @ 1.2327
Oil Down 77 cents @ $68.64
Gold Down $22.70 to $1191.90
Canadian $ Down 1.02 cent to 95.32
Portfolio is BRCD,CIEN,JDSU,SNDK.....
S&P 500 went to as low as 1100.66..which is slightly ABOVE last low of 1095 area...RSI is @ 36.02......
Most stocks are Down....
VIX UP 8.85% to 36.52....
Margin calls are taking a toll in most stocks...wholesale liquidation to raise cash .....by 3 PM it should be completed......
Feels like a V turn is imminent.....
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hello Saleem,
I left the short side too early, sold VXX at $23 instead of $30, and now being the bag holder of many long stocks including SNDK.
I expected for the worst. However, market behaved a lot better today. I bought some TSL at $15. It was on fire sale.
Michael
Hi Michael,
Profit is a profit..
Markets go on extreme..it will come back...lower it goes..higher it will also go in time....
TSL was a good move..SNDK is a great stock....
Saleem
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