This selloff has created serious havoc in individual charts. I am just going to display 3 random charts from completely different sectors - names that were former favorites but have been pole axed for various reasons (China, guidance, Congress legislation).
Much like the S&P 500 these names can bounce substantially and still be in bad condition - but for a very short term horizon they can be appealing 'fast money' trades. When we do get a more sustaining bounce, how these stocks act at their 200 day moving average will give us an idea of what the situation will be over the intermediate term. In fact we can say the same thing for the S&P 500 which has almost an identical set up to these 3... and a few 100 others in my watch lists!
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows