Carpe's 64k question...yes, that's it, isn't it? How bad the selloff, how long, when will we know it's over (my thoughts about "cheerleading" are similar to BMUSA's). Hey, if I knew....
Margin players probably won't have much of a choice. We'll see a 100+ point drop, a late morning partial recovery, and then a dive in the last hour as houses start burning their clients. Repeat Thursday but to a lesser extent and little or no dive at the close if JDSU's #'s are thought to be "good." Friday is more than likely "happy day" but individual investors will have far less cash/margin to work with...and guess who'll have their shares??
I hope that's NOT the scenario. I personally don't plan to sell much, if anything, into a panic...maybe lighten up on some "lottery ticket" stocks so I can buy more cheap NT, JDSU, etc. We'll have to see how it plays out.
Some of my charts gave a bit of warning yesterday and today; I had sell stops hit for several partial positions but I can't think if any one or any combination gave me an indication of the size of the tsunami about to hit. Obviously I need to do some chart "forensics" and see what I missed...
I've got a great book to read for a while tonight and Christin has to work late. Geez...and I was hoping to sleep in tomorrow!
Good or bad, this too shall pass. See you bright and early--MK-- |
