This market is getting destroyed obviously - Dow 11,722 That was a significant level last year, can't remember why but that number was imprinted in my memory. We have a gap down after hours with INTC's earnings reaction. We'll have another gap down tomorrow morning unless something great happens overnight. I would not be surprised to see the emergency rate cut come in sometime this week. We have the CPI tomorrow morning. Earnings season is fully underway. Traders need to be nimble here. I don't think I've held any position longer than 1 hour over the last few weeks, and it's been the right thing to do so far.
If you are a long term investor, or are looking to invest long term, now is a great time to have your wishlist at hand. The financials have erased years of gains at this point. I think over the next couple of months some investors will be able to establish themselves a great long term portfolio. Hang tight!
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