If you count the lower open this morning we have had four swings in excess of 100 DOW points just today. Sheesh. Can you say whiplash? This shit's nuts. Great for daytraders but otherwise nauseating.
Maybe this is setting up for a bounce but I feel generally like these broad, seemingly schizophrenic gyrations back and forth are representative of a market under extreme pressure. A bounce higher would be great. I have a lot of dry powder and would love to reposition at higher prices. Any sustained rally would be a gift to the bears and another opportunity to sell. Just keep in mind the chances of an outright crash are currently elevated (yet remain as always very low).
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