Wednesday, August 10, 2011
To catch a falling knife
Today's action was pretty disappointing... we opened up 150 pts down and quickly dropped to 400 down. Then we stabilized somewhat and even started moving higher until the last couple hours of trading where we puked up about 300 pts on the DOW. I really thought that we might recover today after the initial downward pressure as we gained over 200 points from the lows but it was not meant to be. AAPL and XLE went green and then boom went the dynamite and the bottom dropped out of the market. We finished some 520 pts down in another very discouraging day in the markets.