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Dave’s Daily

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MARKET COMMENT

Dave Fry, October 21, 2009

SUDDEN AIR POCKET SPOILS THE DAY

What was that selling all about? Some conjecture was along these lines—negative analyst comments from WMT; Dick Bove downgrading WFC (people still listen to him?); executive pay cut ordered by Big Brother; selling by Galleon funds; more insider trading indictments; rising oil prices seem now a negative and perhaps some hint of bad earnings on deck tonight.

Once again the pattern of heavier volume selling on down days is higher than previous light volume rallies. Breadth, of course, well—sucked. 

 
 

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