Market Breadth – January 4, 2008

January 4, 2008 | Posted by Jorge

Action today’s been a bloodbath with all indicies down approximately 1.5%.  Here’s the market breadth as of 11:30 this morning, right before the lunch break.

Decliners quickly outpaced advancers from the gate and haven’t looked back.  The decliners vs. advancers have been diverging indicating fairly strong bearish sentiments for the rest of the trading day.  We’ll probably get some sort of a bounce during lunch as Blain would suggest, but I don’t think it’ll be anything significant, not with the negative volume the markets have been seeing today.  Dead cat bounce anyone?

I finally exited my position on MA after taking a beating.  I didn’t follow my exit rules yesterday and as a result I paid for it this morning.  Am I upset with myself?  Sure.  But it’s different this time around.  The anger isn’t at the fact that the markets turned against me.  It’s the fact that I screwed up and is something that can be easily fixed.  For once, I can place the blame on myself and not the markets!

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