Charts, who cares? I am short several techs and will be covering tech shorts in the am (which my guts tell me is a mistake, should keep for a bit, but stupidely will not). Looking to go long drugs and biotechs, and will be shorting some financils. I will be avoiding techs as they will be too unpredictible and I suspect even when they bounce they will sell off. I think this will be felt for several days, that the techs will have further downside for a while.
One thing for sure violent swings. This may be the kind of market to buy dips and short spikes, but have a feeling it will be tough to make a buck.
Well that's my game plan, but in this kind of a market it's too tempting not to get sucked in (and probably hurt) when you see a stock going up 10 points not to join in, and 15 minutes later it's down 10.
LOL, do it right and you'll be rich.
By the way I usually love to rush in and buy these sell off's, but not this time, just instincts saying better safe than sorry. |
