Well, I told you so, in a post to FR yesterday:
“Market will sell off early, bargain hunters will come in the afternoon, averages may well end unchanged.”
As it turns out, it turned around earlier than I expected. The Dow was down only 60 points, and now it is nearly even.
Remember, the market factors in all known information. Did anything startling happen over the weekend? No. So it is equally like to go up or go down.
I’m still waiting to buy, if the prices hit my targets.
http://www.freerepublic.com/focus/f-news/2891315/posts
BIG MISS: April Factory Orders Fall 0.6%, Ex-Cars Fall 1.1%
Read more: http://www.businessinsider.com/april-factory-orders-2012-6#ixzz1wpopSZ3s
The point range isn’t huge, but it’s still struggling right now, over an hour in. I suspect it will break one way or the other though.
It’s looking like a falling man grabbing a branch sticking out of the cliff every now and then. He struggles for a while and then the branch breaks. It just broke.