May 7, 2008

MID-DAY CRUSH

DJIA now down 200 points. The tells that this will stick for today is that the sectors that get blamed for the original market drop, financials and real estate are both down big. Always watch the SRS and SKF (the double Proshares ETFs’) for confirmed market direction. A FOR TRADERS EYES ONLY comment.

I thought I heard Cramer say on CNBC that financials have been on the “shiva list”. Good for Jim, or was he just pandering again to the celebration of Israel Independence day (CNBC has even put Carl Q on the ground).