This is a post from Hello Suckers
We are in correction again. [tag]Market[/tag] sell off ended the rally attempt when it opened low and continued dropping the whole day. The Government has changed the rules in the middle of the track and it sent the market deep down. Another woes, worries, surprises and whatever else over the [tag]economy[/tag] overridden all rebounds attempts during the day. Leaders were mostly hit hard today and in average they lost about 6% – 10% such as [tag]AFAM[/tag]. It is also interesting to see [tag]stocks[/tag] like [tag]Google[/tag] (GOOG) being down more than 50%. When the entire market recovers and rebound such [tag]stock[/tag] would be a [tag]good pick[/tag] if it shows strength and will to grow back up.
|
[tag]Dow[/tag]
|
-347.03 | –3.99% | 8,346.93 |
|
[tag]Nasdaq[/tag]
|
–71.27 | -4.51% | 1,509.63 |
|
[tag]S&P[/tag]
|
-39.96 | -4.45% | 858.99 |
The only positive moment on today’s trading would be that the volume was at average or little below.
Tip: There is nothing more to do than waiting. If you are good in [tag]shorting stocks[/tag] (I do not short yet due to lack of experience), you can consider shorting stocks. Otherwise the best we can do now is to [tag]save more money[/tag] to be ready for next rally, study [tag]stocks[/tag] and market, create [tag]emergency account[/tag] if you still do not have it, do not open any new positions, build a [tag]watch list[/tag] and wait for the market to tell when it is the best time to start [tag]buying stocks[/tag].
My information about stock market average get completed after reading this very useful and informative post .