imo today was just one day of red. more to come with it's half arsed mini bounces till what is likely to be a selling climax on the dow - whether we like it or not, it drives sentiment and the chart has been over extended for a whilst and needs to come back.
it is then that the market and participants will be greeted with a clear mind and landscape, more though shock than anything else - dead wood removed, first timers entering the recent run thinking it's always like this, spanked.
the first to act in buying after this will be the winners, but i expect the bull run on the dow to be getting towards the end - months.
the spec market was already coming off the boil, and the dow movement friday has now intensified this, but i suspect most here know that.
yes, i've taken my profits and my near entry level support levels were looking to be tested so i'm all in cash as of today waiting for the market to completely flush out for the next run.
in the meantime, it's definately worth looking at stocks that held there ground today. saw a few and on watchlist.
