I don't think the low is in. I did look for at least a 5% decline from the 14000 Dow top, didn't know it would happen so quickly. As almost always, I expect a retest of the lows, at least on an intraday basis. In the chaos, WFR emerges as a buy side candidate.
Adams option blog has some stats that indicate some short term upside (search for Dr. Brett reference saying on average similar declines are followed by a 1.0% up move in the next five days).
Money manager Random Roger (link) talks about the need for an exit strategy before the market is moving and adds that:
A bad few months will happen over and over in our investing lifetimes.
No comments:
Post a Comment