Pretty interesting statistic by Bespoke Invest - today is showing the most 52 week lows in the S&P 500 than anytime since 3/9/2009. Unless we do a 'crash', there is a great buying opportunity close here.
The market was tricky today - it broke through the earlier morning lows, and flushed out people like me who stop loss when that happens. Now we are back to 1221ish on the S&P 500. So one could say a 'double bottom' intraday has been created, although a tricky one. I'll be watching these last 50 minutes closely.
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