Silence fell upon the land. The Grim Reaper ravaged the populace. Tears and pain.
I would like to report that Communists have gotten ahold of my quote feed, and I am seeing various false quotes being distributed, like: SFE at $37 (and outrageously, earlier in the day, even $30). Where is the CIA when you need them?
Well, short I guess has been the name of the game, but today, there must have been covering toward the end of the day. I for one would not dare stay short over the weekend.
Rally next week? That's what I'm counting on - but then again, I thought we'd have a rally Thursday, and that fizzled out ignominiously in the last half hour, followed by today's disaster. I thought that today perhaps finally the tax bill $ was being raised and the margin calls were being cleaned up. But now I'm having second thoughts - what if MORE margin calls were triggered, and Monday there'll have to be selling? Yikes!
Anyhow, I should think we must see an end to this romp next week - otherwise we are REALLY in trouble (like BEAR market - a real one). What the hell am I talking about? After all, many biotechs are in a bear right this second (how about losing 90% of the market cap?). Then again, EBAY was positive on the day - go figure.
Just shaking my head...
Morgan |
