Thursday, December 8, 2011

Broke 1243

The dip has started.  The question is how long does the dip last.  It should be brief, maybe 3-4 days.  I don't see a prolonged selloff because the Street is underinvested, taking off a lot of risk during November.  Targeting the 1210-1220 zone.  Maybe if we get real panic, we can fill that gap down to 1195, but I have a hard time seeing that happen with all the strings the central bankers are pulling, and this being December. 

1 comment:

Anonymous said...

As expected financials took the brunt of this move lower.Likewise I expect them to be the largest gainers on the move up.