7:25 am Pacific
Markets have turned violently lower this morning and the CDNX has broken important support at both its 50-day moving average (SMA) and the 2300 level, suggesting that the broad market sell-off this morning is likely the beginning of a substantial correction…the good news is that the overall long-term bull market for the CDNX remains completely intact, even if the Index were to drop as low as its 200-day moving average (SMA) at 1860, so some incredible buying opportunities will likely emerge out of this sell-off…the next major support level for the CDNX is 2200…we’ll have more in our Morning Musings which will be posted at approximately 9:30 am Pacific today…
an up and coming tech company ROI.v has sold off a bit (15%) when they are coming out with numbers in 2 weeks… high institution % of S/Holders.. so low volume retail nervousness selling into the bid like I would suggest most are… 2008 still fresh in peoples minds….
market shouldnt have gone this high this fast anyway… so we hope this IS a healthy retreat.. and hope its quick..
check this… goldscents.blogspot.com/
Comment by Jeremy — March 10, 2011 @ 7:36 am