<Even Pat would agree that this was an over reaction to the somewhat misinterpreted news.>
Yeah, probably. One should be aware, however, of the pressure on Nasdaq. I know personally of shrewd traders that have been Shorting Nasdaq since the Spring by doing nothing except adding to the Short every hundred points down.
By way of example,
"It's 3700, Sell it again,
It's 3600, Sell it again,
It's 3500, Sell it again,"
There is a bias against the near term upside on the Nasdaq, has been amongst the Position Players for months. Tough to debate the value of one or another issue when the entire island is sinking.
Hope that you are correct about Market Stabilization. I own stocks as well. Even though I unloaded Mutual Funds big in the late Spring, early Summer it hurts to see these stocks get decimated. The Nasd Stocks I own are getting decimated. Thank God for GE and the like.
But I ain't that optimistic about those guys either unless we get some relief here. |
