The soft open was indeed bought, but the bulls just don't have the spirit to fuel further spikes for now. The fade is now in place, as the market struggles on little hope to stay flattish.
That underscores just how drastic a character change this market has undergone.
China's stock market, which kicked off this contagious and seemingly ongoing global meltdown, dislocated itself to the upside, much like the Nasdaq did yesterday.
This market is not stabilized yet, and it doesn't appear to be near stabilizing.
Wait for the ugliness to get really depressing, and wait for the Fed cut to get closer.
P.S. Will you be there when Cramer makes his next move?
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Cody Willard Blog The Short-Side Thought Process 3/7/2007 9:24 AM EST A look at shorting volatility in a volatile market.
Cody Willard Blog Bulls Get a Breather 3/6/2007 4:41 PM EST The echo-techo bubble remains something to ponder.
Cody Willard Blog Shorting Time May Be Soon 3/6/2007 3:19 PM EST This bounce may still have a little oomph left, though.
Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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