Market selling off on HIGH volume. Big players want to get OUT. Hedge funds are SELLING. Do not think this is just another dip. The trend has already reversed.
Remember:
1. Don't catch a falling knife. Every bounce so far has been sold off.
2. Do no average down in a downtrend.
3. If you absolutely must enter a position, do it at the end of the day, minutes before the close.
4. OVERSOLD CAN BECOME EVEN MORE OVERSOLD.
You do not want to be the bag holder weeks or months from now. More updates to come after market closes.
Friday, February 5, 2010
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