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Investors in panic dumping bath water with a baby

Amazing days in the stock market. A relief rally diminished this morning. Are we at the bottom yet? People predicting a doomsday or recession are now stronger. Some even are saying that the US has never left recession. Are we really at the same situation or even worse that we were in 2008? I do not think so. SPY fell below $118 level and bounced back, will this be the beginning of a bounce and the end of this rock-fall? Maybe. Let’s see where the market ends at the end of the trading session.

Even though I also think this market is poisoned to go lower, but not this fast. Most likely on Monday or next week we will see some relief. But do not take it as buying opportunity. Personally I will try to profit on this rally in short term, but then I will be reversing back to bearish positions.

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