This market is now feeding on itself. As we mentioned last week, it was important that the Fed act IMMEDIATELY to stem the shift in sentiment. They waited too long.....now they have no respect from the Traders.
We are now completely at the mercy of Hedge Funds and Traders who enjoy selling the market off...because they are short. I had feared the fact that over the past five years, the number of Hedge Funds increased exponentially as did the number of Exchange Traded Funds that enable traders to sell off multiple stocks with a single trade. This is why.
Now...the world economy is all of a sudden collapsing??? Yeah, right. This is a joke, but unfortunately you can lose alot of money as a result. We need some good news to turn this around. Apple's warning didn't help at all. Microsoft is the next big name to announce earnings....on Thursday.
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