[iwantitiwinit]

Originally Posted by iwantitiwinit

Mkt rebound shortly after the open shows there are buyers on the sidelines waiting to put cash to work. They thought prices were low enough despite the expected and eventual late day swoon that was almost a certainty as mutual fund mangers had to place sell orders in the last hour to meet cash needs. This was a result of redemptions placed over the weekend that weren't offset by other intraday buys that might have come in up until 3pm. In the very short term I would expect Tuesdays close to be higher than Mondays regardless of what the early hours hold on Tuesday. As for the rest of the week be careful there will be ramifications from this global 10-20%+ selloff that we haven't seen yet, ie, leveraged etfs not pricing properly and market makers failing to continue to make markets (in other words liquidity vacuums), additional oil/commodity bankruptcies announced, high yield bonds having problems and newly emerging currency devaluations.

I'd be careful to buy too much if market holds, wait a week or two to see how things shake out. If you miss a big bounce so be it, if you avoid a further 10% sell off I think you'll feel better saving the 10% rather than missing 10% bounce.

Just my opinion.

As far as cards prices go I think we see a small pullback but nothing dire.

Wrong.