junqi的博客
just personal musing
正文
The Market is broken down, there is no other way to put it. What is more discouraging is that today's selling comes with increasing volumn, and it seems the selling is undiscriminating, on the stocks I am monitoring, other than a few health care names, almost all of them are down, there is no sectors immune from the selling.
Obviously, tomorrow could be ugly as well based on the reaction to intel's earning.
A few days ago, We thought the market probably will not find bottom until Dow touching 12000. The "guess" probably is still valid today, and given the condition we are facing today, it probably won't take more than a day or two to reach that level.
The $VIX is only 24, the DJI and SP 500 and even NASDAQ 100 are still not in over-sold territory, it is just amazing, there are still plenty of people bet on a quick rebound, I guess the "buy at dip" has worked for so long, people are conditioned to it.
Hopefully, a few more selling days like today will convice all of us that the bear market is here to stay and then we can see some quiet days.
Many times, the market was trying to tell us something, take intel for example, it has been weak for quite sometimes , especially lately, you have to ask why it is weak? the stock reflects the buying or selling interest, and those decisions are based on hard works by some well paid professionals. So, for us ametures, whose trading is just a side-job/entertainment/fun, following the market is like get advices for free. the lessons learned here is that never underestimate the market.
It might not be too late to short some stocks.. Chinese stocks for example, many of them breakdown and probably will continue to trend down. The whole emerging market has been under pressure lately. Maybe it is not too late..
Obviously, tomorrow could be ugly as well based on the reaction to intel's earning.
A few days ago, We thought the market probably will not find bottom until Dow touching 12000. The "guess" probably is still valid today, and given the condition we are facing today, it probably won't take more than a day or two to reach that level.
The $VIX is only 24, the DJI and SP 500 and even NASDAQ 100 are still not in over-sold territory, it is just amazing, there are still plenty of people bet on a quick rebound, I guess the "buy at dip" has worked for so long, people are conditioned to it.
Hopefully, a few more selling days like today will convice all of us that the bear market is here to stay and then we can see some quiet days.
Many times, the market was trying to tell us something, take intel for example, it has been weak for quite sometimes , especially lately, you have to ask why it is weak? the stock reflects the buying or selling interest, and those decisions are based on hard works by some well paid professionals. So, for us ametures, whose trading is just a side-job/entertainment/fun, following the market is like get advices for free. the lessons learned here is that never underestimate the market.
It might not be too late to short some stocks.. Chinese stocks for example, many of them breakdown and probably will continue to trend down. The whole emerging market has been under pressure lately. Maybe it is not too late..
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