We might have just hit the bottom … gotta wait to see the open tomorrow, but a few minutes ago looked very strong.
What a day … 7% swings (3-7% in either direction). It bounced roughly 7% in the last hour and a half. Someone made a TON of money today! Someone much more gutsy than me :)
I was watching it very closely and was on both sides of the market in very small amounts just watching the ebb and flow. I find it helps me to watch the market when it is this volatile to see which way it ‘wants’ to go.
This is quite possibly a short term bottom, but at least we have slowed the acceleration of the free fall for the time being.
I'm not putting any big money in at this point, just feelers … since most times when the market falls this hard we have a few ‘fakeys’ that take it down even further. I am holding a very small position overnight tonight which is more than I have done over the past few weeks ... so that should be taken as a sign that I like what I saw today, but I would suggest waiting another day or two if you are looking to put money in the market. Only very short term agile traders should play the market right now, just too much change for bloodshed at this stage.
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