Just got thru looking at the charts again. What a frickin free fall. 20% drop and blew past all the support lines, never looking back, and if people think the mm's weren't dumping shares , then they need to rethink the situation. Its pretty amazing all the stuff they can get away with. Just don't think this drop is related to flat out selling but more a case of no buying.
KLIC bouncing this morning but less than some other stocks on my radar screen.
Markets are/were short term oversold and got a gap open and lift but it will take some real positive news to get the S&P to get over and hold the 20 dma at 1228.
Still looking to lighten my already light positions into the rally. There will be some battles between the bulls and bears up at the 10 day / 50 day convergence ~ 1205-1207 and then the 20 day as mentioned up at 1228.
If we break above and hold the 20 on a retest then I'll think about unpacking my bull horns from cold storage but otherwise I am suspicious to say the least.