DOW: What a day,
OK, when I looked up the different stocks over the weekend it was clear to see something is coming up. The market was ready for a correction. A few developed already last Friday a sell signal, SAR, like Amazon. but seeing it and selling the stock are two different things. Specially in the last months it was always just for a very short time.
But what happened today is something different. I would like to know what on earth happened around 11:20 AM that all stocks went on sell? The first trade cycle until 11AM went well, stocks recovered from the lost of Monday and then: Booooom, 11:20, everything went ballistic. One thing is to be sure. That was not done by people on the floor. That were computers and they all work with similar patterns. That is the only explanation. But I might be wrong and some of my readers might have a better explanation.
I only do not agree to the crap I could read on the Net as a try to explain what happened today. All of the sudden I could read why it is time to sell. 10 Arguments for doing it. Well, why did you not say so last week? The economy is bad? We do know that for some time. In Greece they will go on strike tomorrow against reductions of their compensation? It was expected. They still think someone else will pay the bill and they can continue to live like in the past. Right , we all have our dreams.
It was certainly not due to a statement of local Fed Director who things the current support programs of the Fed will not work. Who pays attention to a local third class politician. I even do not recall his name. But I might be wrong and he is a second class.....and important :).
Nevertheless it was an interesting day.
As always, just my 5 cents
OK, when I looked up the different stocks over the weekend it was clear to see something is coming up. The market was ready for a correction. A few developed already last Friday a sell signal, SAR, like Amazon. but seeing it and selling the stock are two different things. Specially in the last months it was always just for a very short time.
But what happened today is something different. I would like to know what on earth happened around 11:20 AM that all stocks went on sell? The first trade cycle until 11AM went well, stocks recovered from the lost of Monday and then: Booooom, 11:20, everything went ballistic. One thing is to be sure. That was not done by people on the floor. That were computers and they all work with similar patterns. That is the only explanation. But I might be wrong and some of my readers might have a better explanation.
I only do not agree to the crap I could read on the Net as a try to explain what happened today. All of the sudden I could read why it is time to sell. 10 Arguments for doing it. Well, why did you not say so last week? The economy is bad? We do know that for some time. In Greece they will go on strike tomorrow against reductions of their compensation? It was expected. They still think someone else will pay the bill and they can continue to live like in the past. Right , we all have our dreams.
It was certainly not due to a statement of local Fed Director who things the current support programs of the Fed will not work. Who pays attention to a local third class politician. I even do not recall his name. But I might be wrong and he is a second class.....and important :).
Nevertheless it was an interesting day.
As always, just my 5 cents
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