Folks are scared… they are now doing pretty much as I had previously written… they’re selling into any rally.
The market was off over 500 Dow points by 12:40 or so yesterday, and trimmed that decline in half by the close. But, even as the market was returning, selling came in, to push it back down in the last half hour. That’s usually professional selling.
So, as as I type here at 7:25 a.m. EST, the futures overseas are off by 1/2 of 1%; and while Europe is up a bit, the Far East markets are being hit rather hard again. It’s now officially ugly, and it may well show a lot more ugly before it gets beautiful once again.
There will be bounces, and a lot of folks are going to be trying to sell into them. I’m in it for the ever-growing stream of portfolio dividend income, which I trust will continue unabated. More later, as it might be helpful….
Looks to open FLAT….
Here’s to your successful investing!
Harold F Crowell