Tuesday, November 23, 2010

Reasons to Sell

Suddenly the market has found a lot of reasons to sell after ignoring potential bad news for so long.  North Korean attack on South Korea, European debt concerns, and the insider trading probe provide convenient excuses to sell.  I would have preferred us to gap down on no news rather than all these things to worry about, but I still expect lower prices after the open.  Last week's gap at 1177 and the lows around 1172 are natural areas of support. 

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