And now the 'experts'-What they are saying.
Kemble:
I don't know you saw this but here it is any way.
Source:CBS MarketWatch
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Monday's selling of those blue-chip, stalwart, bellwether, sacred cow stocks marks the culmination of the selloff," said Scott Bleier, chief investment strategist at Prime Charter Ltd. "This is the towel getting tossed in.
"They're finally coming to those big, big names," Bleier added. "That, combined with the market coming down to my downside target of Dow 8,000, suggests to me that the selloff is basically done."
"It's a very hard call to make, but I think you put your foot in the water here."
"What's going on that started last week and is continuing Monday is that the market is throwing out the baby with the bath water," said Alfred E. Goldman, director of technical market analysis at A.G. Edwards & Sons Inc. "In other words, those sacred stocks that had led the market up and really had been somewhat immune to the price correction that started six weeks ago, are getting badly battered.
"That type of selling in the sacred cows tends to be one of the conditions that you see when a market is either at or close to a capitulation bottom."
cbs.marketwatch.com
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