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.
Surprisingly, sentiment was slightly less pessimistic on the ETF that tracks the Nasdaq, (QQQ), 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 PM
Still, 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.
At 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.