It was a disappointing day for the Bulls. I came in today looking for an excuse to buy equities — and I never got it.
As noted in the Smithers piece, markets may be due for bounce — he thinks due to buybacks, I think due to oversold conditions.
The inability to maintain a strong opening, despite the deep discount from a month ago and the oversold condition makes me wonder if there isn’t more weakness to come.
Bottom line: I did not see any reason to buy ‘em here yet.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.