Originally Posted by stylinexpat
Let's see if we can see 4-5% drop then today. These days it seems like they spread the losses out over a few days. Today and tomorrow should be bloody. I reckon after open it gets quite ugly today.
looking forward to it - the more fear mongering there is, the more bargains there are to be had, just like in early August sell-off (after which many names returned back to near 52 wk highs). I have been picking up a ton of US utility stocks that offer excellent yield, and are generally low beta, safer stocks. Id love for more to go on sale as they sure beat most corp. bond yields these days!
You technical guys crack me up - you realize that there are underlying businesses behind the names that you are analyzing that go beyond tracking out patterns on stock charts? I recognize technical analysis certainly has a role in investment management but a backwards looking analytic tool shouldn't be your only barometer. Not trying to be offensive - solely my opinion.
If you make money at the end of the day, regardless of strategy, its a good day! "Happy trading"!