4 replies to this topic

[relax]

seems like everybody is playing the short side and most people expect a sell off today

[Doug]

seems like everybody is playing the short side

and most people expect a sell off today

I believe most are expecting the Fed to play it safe and cut .25 which is already in the market and will create no upside. Therefore any bad news will have a pronounced affect to the downside.

Regards,

[ogm]

I think Financial stocks and internals this week were very weak. And that in the face of the widely anticipated rate cut. thats a big problem. We all know rate cut is coming, and yet financials are looking sick. We had a 9 to 1 downside day on Friday on CAT news. And that day hasn't been negated yet. The market cripped up on very bad internals ever since. The perception has changed. It has changed from... The economy will be OK, to The economy may be OK, but the earnings will sag. Notice how many stocks gapped down 10+ % on earnings breaking their longer term charts. No one is safe. Estimates started coming down, thats the problem. You don't know what nasty downside surprize you're holding in your portfolio. That makes it very hard, and certainly there is no urgency to buy anything.

[denleo]

http://www.traders-t...showtopic=78341

TT

Denleo

[OEXCHAOS]

seems like everybody is playing the short side

and most people expect a sell off today

I was long for a day trade, but closed it out. I'm long for a longer term trade and I'm long from just off the lows for Timer Digest's "tacking account".

But I'm thinking that we'll see selling by Friday.

Mark