Jim, market momentum is really nasty, with 49% of stocks on the 3 exchanges trading below their 100 day moving averages.
If that figure goes to 51% I think we could see things get much worse, real fast, but if is the question.
If not, maybe we get a bounceroo, I just can't even guess at this point, and who will hold over the long weekend, long or short? I see increasing volume, but we are in a real no-mans land here, but on the other hand, a lot of stuff is so oversold it looks cheap to me, and I want to start buying a few things long.
The VIX is up, thus increasing option premiums, natch...
Anyway, here is a story from the BBC about UK consumers, and they are heavy into borrowing. They sure don't seem to spend much at the dentist though ;-)
news.bbc.co.uk |
