I woke up to see the SPUZ down 24 buckaroos - Thats a good start. A close down here and I imagine I will have one heck of a day - Every short out there right now is probably buying some futures and covering some short stocks (as is this one) but that usually means we are gonna keep going lower - regardless of what the media would tell you there are way more long players than shorts.
I mentioned many times that when the buying was done you were gonna have a 25-30 point down day because EVERYBODY was full - well it looks like its here.
I think the big bank failure Friday (that BBT swallowed up with help from its friends at the FDIC) and the one hanging over the market today (guarantee bank???) is reminding people that banking is still fragile....duh!!
Im not gonna pound my chest to hard - the Bulls could still make it tuff for us bears.
Should be an interesting day
JB
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