8:00 AM
The market is going too quick and too fast. Generally speaking, when the trend is formed, Carl is mostly right.
The pre-market is up a lot. It proves that yesterday's down reaction to BA and Chevy's strike was over reaction. I had the similarly feeling. It should be a good day.
I put a market order last night to expect the irrational on China FEED, this morning, it went up 15%. Interesting!
10:00 AM
Very heavy buying for the 1st half hours.
8:30 PM
In the afternoon around 2 pm, the market started selling. It ended with +100 to -100 swing. Closed at -64 in the DOW.
The sell off is totally off the guard, and I think it is not legit. Although it appears panic, more towards technical, no fundamental. So no panic here. As the matter of fact, I am buying like crazy. Tomorrow is the key, if it keeps the down trend, then a 3% correction is in play; if it gaps up, technically, it is a 1 down covering 3 up pattern, should be treated as a continous trend pattern.
Action for tomorrow:
Good stocks are on sale right now:
1. Watch, don't panic. If it needs to sell, only sell GLD, MOO, MPEL, All Tasrs. Again most likely, NO sell.
2. Watch BIDU and GOOG, they go as a pair. I expect GOOG to sink to 580s, and BIDU goes side way for a while. So just wait.
3. AAPL/RIMM/BIDU/GOOG/AMZN/VCLK
4. Safe play: Oil services XTO
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