Funny, but I just PMed you from your request on the G&K thread..and now I found your question..
Um, you were certainly right and I was wrong about direction, level of sell-off.....I am now (and have been for a couple weeks) of the opinion that this sell-off (in the Naz) is due to FUD, typical October selling including heavy tax selling by mutual funds (to offset their winners that they cashed in, the Qcom's, Cisco's, etc)...in that sense, this is similiar to April, when tax selling by individuals just tanked the market....
If we don't rally between now and mid-November, I'll agree that this is something worse and more severe (so I agree with your original premise, if I understand you correctly)..
Since you hit a home run, I'll say I hit a single by recognizing the double-top in GMST the other day and telling folks to sell...good luck... |
