Discuss Market Comments 10/01

I did not like that- It may be too early to call, but the market indices put in a classic outside reversal day yesterday, and since we had to make an IFT decision by noon ET yesterday I decided to use my free move to the G-fund after I saw the reversal...

Market Commentary for 10/01/10

Current Daily Market Commentary

 

[coolhand]

I think there were a few of us that have bailed in the past couple of days, although I left 20% in the S fund as a hedge. I am of the opinion that sentiment will put a floor under the market. Perhaps at 1130 on the S&P. Next week will be telling whether we have support at that level or not.

 

[tsptalk]

Yeah, the survey was pretty neutral although it would have been a sell in a bear market. I was a little surprised the bull / bear ratio came out above 1.0 to 1.

I hated to sell yesterday with the first week of a new month coming up, but that reversal day was bad news.