That's the real question. I frequent several chats, blogs and read a ton of emails and articles daily. I honestly have not read one piece on anyone thinking the market could turn up from here. Every single thing written about is how the market needs to test the lows...it has to test the lows! The argument was appealing last week when we had an incredible number of calls in the market as the Government was going to save the day. Now that we have really sold off, that number of calls has quickly been converted to a huge amount of puts. Gang... the financial world and institutions do not want to pay off those puts. They will be looking ahead and in my option reversing this market and moving back the other way. Anyway that's my thoughts. Yes we can always go lower (test the lows!) but my gut says other way when the world says down. I will be buying the market tomorrow with a stop below 764. Good luck!
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