Lot of folks start contrarian thinking and few might have courage to go against the fear and go long on SPY or DIA. One would suspect that we are so oversold that Markets might get a bounce back anytime. Also this is not a time to add to any shorts or puts for portfolio protections.
The Flash Crash showed us one thing on that thurday afternoon that they was not much appetite to buy more stocks.
Till some of the markets indexes stabilizes, this is not a good time to be either short or long. Overall we are in Bear territory.
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