Ouch... Dow Closes -213.04

Damocles said:
Indeed. Is it time to short or to hold?
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right now, US market trend is still positive... despite today. We will see what tomorrow brings. The break below 11k isn't a technical break, the question is will it be a psychological one?

We are watching this one closely
 
Topspin said:
Portugal gets hit with downgrade which is what started today's tumble. If spain is next you'll see at least a couple hundred more points down.
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yep... downgrades to both Greece and Portugal led to the downturn.

Spain, Italy and Ireland are the most likely to be next.
 
Onceler said:
I don't see this as the start of any sort of prolonged "correction." It's a down day, because of some bad news, but overall, quite a few indicators are up.
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From a technical level, almost all techs are up for the US. But if the other three follow... this could lead to a flight to quality... which could push treasury yields down again... along with the market. At this point, I would agree with your above assessment. But keep your head on a swivel. It won't take a whole lot to spook this market into a selling frenzy. 2008 is still way too fresh in people's minds.
 
Superfreak said:
From a technical level, almost all techs are up for the US. But if the other three follow... this could lead to a flight to quality... which could push treasury yields down again... along with the market. At this point, I would agree with your above assessment. But keep your head on a swivel. It won't take a whole lot to spook this market into a selling frenzy. 2008 is still way too fresh in people's minds.
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Of course I hope it's not a repeat of 08 everybody does, that's the only time in 26 years of all in I even bought a little bit of bonds.
 
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