A real pisser. I was hoping that the negative futures numbers would continue this morning but no. We have had huge rallies from the low levels last night. The solars, steels and a few Chinese stocks are going crazy.
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The first hour is the amateur hour and the big boys own the last. I am concerned if we open up and then trade down - we could have another very messy market. The Dow and S&P Yin/Yang trade projects to another 150 Dow points down. If we rally from here, it will be painful, because I have been stopped out of most of my stocks. I am about 90% in cash not include my long term mutual funds.
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We shall see.
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