Julie, I totally believe we see another major tech selloff, like we have discussed. . . strictly for the purpose of 4th day margin liquidations after 2pm EST.
I would be interested in seeing which stocks had the highest margin interest at that brokerage that downgraded ARBA, CMRC, etc. this morning. I would be willing to bet that B2B issues would top the list. ARBA now down 37, CMRC down 36, VERT down 26, etc.
Meanwhile, from our bouncers lists. . .I am still showing SNDK, CHKP, INTC, QCOM, BRCD and PMCS in the green. . . .which casts another vote their way as top bouncers. . .
Not wanting to hold much overnight here, however. . . not the way these brokerages are putting out downgrades on the biggest movers. . . nearly impossible to predict.
But if we see the low today between 2pm and 3pm EST as I have predicted. .with a rebound in the final hour. . . . then I believe the chance will be 70% that the margin liquidation selling is over and that we rally on Monday as earnings week fuels the rally. . . .in which case, I would buy back our Early Bouncers and hold them for next week.
Rande Is |
