Tuesday, March 10, 2009

Fw: Ugly Looking Market

Wow, I may have called the bottom yesterday with my overly bearish comments.  Biggest one day moves do come in bear markets, and we were quite oversold, so this could have been just a relentless squeeze set off by the Citigroup comments this morning and followed up by rumors of the uptick rule being reinstated.  But with this bear market anything is possible.


Yesterday's Comment:

"This market looks like it's about to get cracked wide open.  Not sure of the duration and depth, but the old leaders are all pointing down, and the few that managed to hold up are getting taken out behind the barn and shot (some are still holding).  This is probably the setup to the climactic end of this leg down, unfortunately not the overall bear.  Buckle up, it could get rough."


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