Re: My 'this market sucks' comment from yesterday morning... Briefing.com just posted the following about the current market conditions:
12:28 Floor Talk
After the mkt sold off below its early trading range, we asked around some trading desks to see if there were any specific catalysts. Some of the traders cited the weaker than expected Philly Fed number, others cited bearish technical factors, but the best answer came from one trader who simply stated: "the market stinks." Institutional desks also note that trading should exhibit some big swings intraday due to options expiration tomorrow, which will likely be exacerbated by the quick money that is always looking to jump on the bandwagon in either direction. One trader goes so far as to suggest that you need dramamine to ride this tape.
Back to my DVD watching...
I've been on the wrong side of this, but can't pull myself away with some of the technical indicators near historic oversold levels. Every instinct in me says to be long right now.
(As I ride it down).
Yeesh.
Michael, I agree fully. New reader and new blogger, so attempting to read other financial related blogging to enjoy community and perceptions of current market psyche of other traders/investors and learn new things as well!
Muckdog, I agree but average on down!
Both, this market was so boring yesterday. Best of luck to the both of your trading/investing!