Stock Market Commentary 20081010
Submitted by TimingStrategies.com on October 11, 2008 - 15:02.
UnF......g believable! As posted on Monday 1.) Everyone looking for a bounce got drilled, 2.) No prior historical benchmark to lean against, 3.) New historical extremes in almost every financial market do not necessarily mark a long term bottom. Short term bounce may not even materialize at this point, a possible congestion range at the lows to work off oversold extremes before possible next attempt at new lows. That said , should a sharp bounce actually occur, within 1-5 days, looking to sell get flat and possible scale in shorts at ~1020-1120 price levels. Hope is not an investment strategy
