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Isn't It Interesting
Open is fairly orderly so far. We're watching Friday's lows as the current line in the sand. If violated, the dip buyers will likely stand aside.
But as usual, traders are buying the open - it's what they do.
Here's something that's bugging me... Does anybody else find it interesting that everybody, everywhere is saying "don't sell now!" and "buy the dip"... hmmm... it seems that everybody is now trying to redo the mistakes from the credit crisis.
However, IF (and I do say IF) the decline is based on a slowdown in economic activity, then this decline may continue after all the computer-driven volatility calms down.
All the Best,
Dave M.
Chief Investment Strategist
Disclosure - Mr. Moenning and/or related companies own positions in the following stocks mentioned: none
S&P 500 - Intraday
S&P 500 - Last 3 Months
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