Morning folks. futures looking like we are going to be opening slightly lower today. Overall doesnt seem to bad out there as we are looking at less then .5% dips across the board so far. It was nasty out there yesterday with mother market taking some serious blows to the babymaker. Markets were pretty much down 2% across the board. As we have talked about for some time the market has been in a range for most of 2011. As we get to the top of the range in the markets it takes very little in terms of news to get us kickstarted on the way back down to the other end of the range. We have seen it all year where a piece of bad news is timed when we are at the top and some good news comes out when we are at dead bottom. Thats how the market works.
Its going to be dicey for the next week. If you are new or dont have cash to burn make sure to play small or just watch and learn. As you saw for the past 2 weeks you can make a whole years worth of returns in a matter of 2 weeks when you see a market rebound those are the times you want to play heavy. Days like yesterday only the slickest of traders can make money.