No follow-through whatsoever today after Friday's big afternoon reversal. The market gapped down and made an attempt to run positive but failed. The Dow closed 103 points (1%) lower with financials and materials dragging the indexes lower. The inability to achieve any upside today after the wash-out of selling Friday indicates much lower prices.
The XLF breaking the support level at $14 is bad news for the market. The leveraged financial ETFs are coming back into vogue as SKF, FAZ and FAS are becoming great trading vehicles again after a year off the radar.
I'm a big fan of Taleb but he really needs to stop talking. Quotes like this make me a little disheartened: "I am not saying Buffett doesn’t have skill—I’m just saying we don’t have enough evidence to say Buffett isn’t doing it by chance." Sorry but that is reductio ad absurdum.
I signed up for Level II of the CFA today. Good-bye life for the next 4 months!
Market Fails to Follow Through
No follow-through whatsoever today after Friday's big afternoon reversal. The market gapped down and made an attempt to run positive but failed. The Dow closed 103 points (1%) lower with financials and materials dragging the indexes lower. The inability to achieve any upside today after the wash-out of selling Friday indicates much lower prices.
The XLF breaking the support level at $14 is bad news for the market. The leveraged financial ETFs are coming back into vogue as SKF, FAZ and FAS are becoming great trading vehicles again after a year off the radar.
I'm a big fan of Taleb but he really needs to stop talking. Quotes like this make me a little disheartened: "I am not saying Buffett doesn’t have skill—I’m just saying we don’t have enough evidence to say Buffett isn’t doing it by chance." Sorry but that is reductio ad absurdum.
I signed up for Level II of the CFA today. Good-bye life for the next 4 months!
