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I like it but there are very few stocks I would be buying until the market stabilizes.
Anything gold/silver related but GLD is probably best, X or TIE with a tight stop as they were very strong this week.
Other than that maybe AAPL for the long term in the 200-215 range.
Nice. It’s on the list.
I would be very cautious to buy “mainstream” equities in this market , unless it declares that the blood is finished or so , so I concurr with TA
Scott
I totally agree with your opinion of the fat finger phenomenon of thursday was no error and or computer glitch. I just noticed that SEC Rge201 goes in to effect on monday may 10 which curbs the short selling on severely distressed stocks which are down by over 10 percent.
http://www.sec.gov/rules/final/2010/34-61595.pdf
this was the last effort of the short hedge funds to exploid the system and they did so successfully. same thing happened in 1987’s crash which was more severe since we did not have PPT at that time.
the only thing that rescued the market on thursday was PPT which came to the rescue, but otherwise it would have been another black monday or in this case black thursday.
what amazes me is that the media talks about fat finger, computer glitch etc and they state that this was the worst plundge in the stock market history. but they fail to state that percentage wise this was not comparable to the black monday in 1987 when the market dropped over 22 percent and closed at that level. we dropped mearly 10 percent and recovered and closed minus 3.5 percent.
as I am typing this heads of states in europe, with funny pants, are scrambling to calm the market and tomorrow will announce a eurozone stablization package, a duplicate of helicopter Ben’s banking policy and the market will rally will resume its upside trend.
our government and europeans, have not wasted trillions of dollars to inflate the economy for some corrupted Greeks and some stupid hedge fundies to crash and burn it.
obviously it is just my opiinion
peace
Thanks for the tip Scott.
@Dish, I wasn’t aware of the May 10th date. WOW and thanks. Very interesting.