Global Action

DJIA is down over 200 points as of this post after a morning of whip saw action due to a global rate cut and recession worries. Probing for value with rapid deceleration and plunging action has managers staying busy with redemptions and screen jaw. These are fast markets for anyone who has ever traded on any floor or been a screen jockey all their lives. Nibbling continues in these cheaper values areas but no one is really sure if things are cheap. NQ100 will make a bottom first and lead the markets higher, but that has not happened yet.