This is a brutal selloff. I am starting to worry now that the S&P is below 900. If we close below, the new support level is 880 - 875, while new thin resistance seems to be the 20 day. Banks like USB and GS are getting smoked. As sad as it sounds, the market really can't go up, unless the financials reverse and turn up.
All you can do is really sit back and let the bulls and bears fight. Bears want to take us down another 25-50 pts, were the bulls want to take us up another 25-50 pts.
I cut my BZ position for a big gain but the rest of the small cap "junk" stocks are manic. I mean GKK went from $3.20 to $2.40 in 2 seconds...talk about a heart attack? I am still holding but am not a happy camper.
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