Not a fun time for the bull side. This is the second time in under a week the market rallied to a positive (or in Friday's case, nearly unchanged) close after a down day, which should have been positive.... but opened the next day down deep in the red. Last Thursday was more ECB inflocted whereas today is debt downgrade inflicted.
Currently we sit at the intraday lows of last week. Let's see if it holds.
EDIT 10:19 AM - Ok not so much. Once we break those old supports such as previous lows, its amazing to watch how fast those computers sell off this market. We dropped 8 S&P points in a flash.
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