Monday, August 8, 2011

What a day!

Today many indices hit a bear market territory. There was no place to hide as everything got hit. Liquidation is the word. I am not sure what one can do other than reduce exposure to the market. It is very interesting that all levels were broken and no support was given at all. Emotional selling has no boundaries and always overshoots. Was today a capitulation day? Hard to say, as the selling continued and no real buying was there to counter. We could have a few more days of this to settle the margin calls. Stay safe...

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