Bracing for More Pain Before the Bell, Investors Ignore Futures Signals: StockTwits
NEW YORK (TheStreet) -- Buy the dip or cash out? Investors on StockTwits.com grappled with that question before the opening bell Friday morning after a sharp selloff in all the major indices that left few stocks unscathed.
FUTURES BE4 BED ... $SPX $SPY http://stks.co/q0CLv -- @WallStJesus (@WallStJesus) Apr. 10 at 10:25 PMBut StockTwits.com sentiment called for further declines. Sentiment was majority bearish on the ETFs that tracks the S&P 500 (SPY), Nasdaq (QQQ - Get Report) and Dow (DIA), according to StockTwits analytics.
"BTD", "BTMFD". So, which dip should be bought? Which pop should be SHORTED? $SPY $QQQ $DIA -- Daniel Marquard (@DanielMarquard) Apr. 10 at 10:28 PMSurprisingly, sentiment was slightly less pessimistic on the ETF that tracks the Nasdaq, (QQQ - Get Report), than on the S&P 500. The Nasdaq saw the greatest losses yesterday among the most watched indices -- even more than the iShares Russell 2000 (IWM) index of small cap stocks. Only the iShares Nasdaq Biotechnology ETF (IBB) took a harder hit. Some investors said the selloff, particularly in small caps, was overdone.
$IWM they're talking relief rally tomorrow.. -- carol edwards (@Thorgood) Apr. 10 at 05:56 PMStill, many investors argued that the selloff that turned the Dow and Nasdaq negative for 2014 was a sign of the top for the five-year bull market. They said the charts called for more pain and a deeper correction.
$DIA Never be the last BULL standing! TOP!!!!! SAMBO!!!!! http://stks.co/f0UX3 -- Matt Nowicki (@TWTRbull) Apr. 10 at 07:02 PMAt the time of publication the author held no positions in any of the stocks mentioned. This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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