While it is hard to short the market now, I do think a feeble bounce back into the declining MAs will be. The market sold off on VERY high volume, and the distributions days are alot now. Wait til the dust settles before buying back. I do think this will be buyable, it is just a matter of when. I will be looking for the strong stock during this correction because those are the stocks in which will be our leaders in the coming rallies. (Ex. $VZ today). Accept the volatility and move on. Dips will be bought, and rips will be sold – as simple as that when it comes to volatility.
There are some stocks that closed green today (of course) but it would be best to wait for when the market is more conducive for longs as a whole to start buying these names.
If any of you are really good at Chemistry, or Trig – let me know! I have been doing that stuff all afternoon.. and that is why this is so late.
This stuff may sound basic but it is vital to ad hear to during a correction..
Here all my charts I did today, enjoy –