Bosco, I said yesterday that the low will not hold, I also said, that I am not going to look at the market today (I was on a business trip anyhow), but I did call few minutes before 10:00 AM this morning to further reduce exposure (to very little), CYMI was already under my stop and went out at $47.5, so I already threw KAB and SIII at $6 and at $14-7/8 respectively. All three losses, CYMI actually hurt, a full $4/share, the other two, I was luckier.
As for the market, we should get a bpounce, probably not Monday but after an hour or two on Tuesday. Monday has a very high likelihood of seeing a real massacre. I would not be surprised to see the Dow under the low set earlier this year (9730 or so), and the NAZ, well, would you believe under 2600? I am not saying that will happen, but if we get a real panic, and we sure could the mother of all blue Mondays.
I must say ione thing, it sure feels good to be extremely heavy in cash.
Zeev |
