Outright Panic: Too Far, Too Fast?
Courtesy of RobotTrader at Zero Hedge
Markets were roiled once again today as the mouseclickers were busy selling giant baskets of stocks. That’s the beauty of stock investing, instantaneous liquidation or position reversal. Now we need to figure out if fear has "gone too far, too fast", or if this is simply another ruse to offload more bonds at 2%, 300% oversubscribed.
These two charts say it all….
What was curious today was that copper was actually up on the day, gold didn’t crash, the euro didn’t crash,and bonds failed to punch out to new highs.
What’s up with that?
Who knows, daytraders are getting killed trying to short these bank stocks:
Gotta pick the right ones I guess…
And notice how "investors" were keen to selling stocks and buying stocks which are favorite "hiding places" like cult stocks (ISRG) and retailers and restaurants like Target and P.F. Chang’s
Heh, just more jello running around the plate.
