Thursday, December 8, 2011
Broke 1243
The dip has started. The question is how long does the dip last. It should be brief, maybe 3-4 days. I don't see a prolonged selloff because the Street is underinvested, taking off a lot of risk during November. Targeting the 1210-1220 zone. Maybe if we get real panic, we can fill that gap down to 1195, but I have a hard time seeing that happen with all the strings the central bankers are pulling, and this being December.
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1 comment:
As expected financials took the brunt of this move lower.Likewise I expect them to be the largest gainers on the move up.
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