MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

4:00 PM EST

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To: KM who wrote (36635)	1/4/2000 6:03:00 PM
From: American Spirit	Read Replies (1) of 99985

Good post. Yes I believe the selling is overdone. But hard to predict the exact timing of the upward rebound. Might be as early as tomorrow morning. In many cases the selling reached irrational proportions (ignoring great news and earnings). Short covering could add to the violence of the rebound. Plenty of money on the sidelines to fuel a whopper of a rally over the next few days or weeks. Then we are back in earnings season and that should mute anything the Fed does. Besides, today's sell-off more than priced in any hike. So I feel comfortable holding and buying from here. (having loaded up already today at or near 52 week lows for most purchases).

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