After such great news in IRAQ, this is an ominous sign.
Why is the market selling off
- Thread starter myminitrading
- Start date
more sellers than buyers 
IMHO, significant that we were unable to penetrate dow's prior high. Bernanke's transparency is being read as lack of knowledge and making the market quite insecure.
Also, it seems that he is willing to raise short term rates more than people thought he would be, and competitive hikes by ECB (with japan to follow) will slow global growth for a while, and take some pressure off the overheated commodity markets.
Hardly a bloodbath for now, but probably better to wait for a new bottom to form before getting long size again.
but I really have no strong view on this market these days. It is somewhat confusing.
Also, it seems that he is willing to raise short term rates more than people thought he would be, and competitive hikes by ECB (with japan to follow) will slow global growth for a while, and take some pressure off the overheated commodity markets.
Hardly a bloodbath for now, but probably better to wait for a new bottom to form before getting long size again.
but I really have no strong view on this market these days. It is somewhat confusing.
I see the DOW bounced off it's 200 ma. Maybe now we'll get that bear skinnin' you're looking for...
...or not.
...or not.
Watch Bernanke come out and say, Hey guys I was just kidding about rate hikes. Just a few days ago he was talking tough if he reverses just to calm the markets, that will just make it worse.
Holy trap door what happend? 30 point drop in seconds.