edwjm (99.83)

Downturn on Oct 11

October 12, 2007 – Comments (2)

The sharp reversal in direction at the end of the session Oct 11 makes me very nervous.  The "conventional wisdom" is that it was the result of a public statement made in Europe, but The reaction seems to great to be too great for that explanation.  It seems to me more like a case of the straw that broke the camel's back.  Could this market be overbought?  Is it the beginning of a classic "October massacre"?  Time to make sure that you are not overinvested in stocks, because the road ahead my be very bumpy.  If you own stocks on margin, LIGHTEN UP!