1). I put a post 2 days ago saying: every retailer and fund manager might be waiting to sell on the passage of the bill. This is really a bad sign, Today this really happens. This usual sell-on-news get amplified so much to some sell-off unusual, as we saw today.
2). The down market during the past 2 weeks really hurt the confidence of all people. So many people pulled out from their funds, 401K etc. Their extraction from the money market have a huge impact and this impact is and will last for some time.
3). After all the fuzz about "pending" bail-out is gone, the market can no longer shrug off all the bad economical news like it did during this week (see all the job data, manufacturing data etc.). Every bad news this week should have brought down the market, but the market held due to the pending bill. Sorry, the bill is there now.
4). I also mentioned the TA might not be effective for some time. For how long? I don't know. But the market can stay irrational longer than you think. We get some very good TA signals for long, but we still need patience for them to take effect.
All in all, I think next Monday the market will show its true direction.
[ 本帖最后由 EarthJade 于 2008-10-3 16:46 编辑 ]
狗仔卡
发表于 2008-10-3 03:24 PM
[ 本帖最后由 leeyuan 于 2008-10-3 16:29 编辑 ]
