This chart makes the market drop of 08′ look surprisingly normal. To bad all of our retirement accounts don’t still look normal.
Today’s move isn’t surprising given my thoughts from last night in what direction this market is going to move. I would not chase or force any trades. The problem for under-invested traders (like myself at this point) is that I don’t think the market is going to give us a decent pullback to buy stocks. Too many people have that mindset right now.
What to do? Wait for a intraday pullback and start nibbling on some momentum stocks and try to hold on for the blow-off top that should cap this up-move. I really have no timeline at this point when that cap should come.
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