Today was another 90% down volume day. The real question is whether this is just a typical decline or the start of something much larger. Already this BULL MKT has crossed historical bounderies by having a 16% decline and a 19% decline, Bull markets do not normally contain 2 declines of plus 10%.
LONG TERM SENTIMENT IS BULLISH, and the shorts have been battered, so I'm not sure where the liquidty will come from. We are short term oversold, due for bounce. SPX 1340 key area, 1300 even more so.
Job creation slugged to a near halt last months report and was near half what was expected and a multi month low. Europe land is not settled in their own financial crisis....who is next. Their central bank is pouring Euros out their wazoo like the FED has here....they just call is something else, not QE.
Housing is not healed. Be thankful to have a job.
VIX hit 20 plus today. More companies will dissapoint this reporting qtr. GAS prices are killing the little guy shopper.
AAPLE touched $600 BILLION in valuation....was just $500B not that long ago...talk about a stock and tech in general ripe for collapse....they talk you into that they are special....shits a commodity like toliet paper until someone convinces you theirs is softer and won't get stuck in your crack.
Look how fast they run for treasuries driving the yield on 10 yr to below 2%!!!
My mother in law passed away a few days ago....then I will be out of town until mid week, all take care.....
D
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