Check out these stats from the NYSE:
Up Volume = 193,392,487 (5%)
Down Volume = 3,506,866,972 (95%)
Unchanged = 3,045,300 (0%)
Total = 3,703,304,759
That's about 18 to 1 ratio of down volume to up volume. The Bears will argue this is a complete disaster and you better head to the hills, while the Bulls will tell you that after a wipe out the size of today, there is no where to go but up. Some technicians argue all it takes is a 10 to 1 ratio to get the buyers back in business.
Maybe a better idea is to read the weekend Barron's edition and do the exact opposite of what they say:) Good luck.
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