Where Are the Dip-Buyers?
The market action today is a good illustration of downside momentum. This is what happens when folks want out and there isn't any interest in dip-buying, which always sounds like a great idea when the market is uptrending, but when it starts to free-fall, dip-buying loses its appeal very quickly.
What is particularly worrisome is that we have not had any decent relief bounce after the pounding yesterday. There was virtually no interest in bottom fishing and even the contrarians, who are quick to conclude that sentiment has reached extreme levels, aren't biting....159 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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