The worst thing is these markets opening up day after day, and then selling off all day. After yesterday's carnage the best thing would of been to open down in a large way, in a wipeout type of selling, have people "give up", and from that level we can make some sort of bottom.
I don't know how the rest of today plays out, but this pattern of continuing to open up, and then sliding just tears away at people's constitution. Chinese water torture. Better to rip all the hair out in 1 quick band aid pull, make people want to turn off the computer screen, and stop dip buying (I'm raising my hand as guilty), etc. Dow down 200 right off the bat would of made me more constructive. Now we have to just hold our breath while people sell off into strength and wait for the (what appears to be) inevitable sell off.
Friday, January 18, 2008
We Need to Open Lower
Posted by
TraderMark
at
11:06 AM
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We Need to Open Lower
2008-01-18T11:06:00-05:00
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