Thursday, June 21, 2012

Sharp Sell Off

Stocks sold off hard today.  Steady decline from the get-go.  The single day breadth was also high to the downside compared to up days in the last couple of weeks.  The last four days of gains were wiped out in one day.  It is as if you climb up on stairs and come down on an elevator.  There was gradual improvement in breadth from last couple of weeks leading up to today but was not convincing enough to thwart a sell off.  We are in a volatile period. Staying in cash is the wise decision one could make to protect one's portfolio and psych.
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