Yeppers, that's the Dow today, below 12,000 and probably still going lower at the end of this week when Quadruple Witching Friday occurs.
I had thought that these lows would trigger some buying around this level but
it appears, it's still a seller's market. If you are looking for some bargains,
you may need to wait a little longer and get out of the way of those sellers rushing for the exit doors.
When there's a sale at Macy's, everyone runs to buy a bargain.
When there's a sale on the Wall Street, everyone just runs (and sells).
Wait, be patient, those "market maker" guys have to make money too.
Eventually, the "buy" trigger will go off.
Be ready to "back up the truck" as Jim Cramer would say.
The Fed meets next week to "confer". Expect some action if they do cut rates in the following month.
They will. And don't forget to watch the .VIX (CBOE Volatility Index).
It peaked again today when the Dow slumped. Wooo! Scary...
The Dow closed above 12,100 so that counts for some support. Watch out though! It's a glass floor.