Friday, October 23, 2009

Fear Factor

Traders are now getting a tad bit scared about the market. Still a lot of complacency with the put call ratios not very high despite being deep in the red. The action today was very bearish, especially on top of the churning that we saw on Wednesday and Thursday.
I am looking for a gap down on Monday as traders digest the action over the past week. The bulls threw everything they could at the bears, INTC, AAPL, JPM, MSFT, AMZN and the market has basically gone nowhere.
Fear is now a factor.

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