US stocks got whacked for major losses as the SkyNet SellBots had total command of the day’s trading. The DJIA plunged 608 points (2.4%) and the NASDAQ surrendered 339 points (4.4%).
Our guess, and that’s all it is, is that after the mini-crash of 2,200 points (8.4%) in the DJIA and 950 points (12%) in the NASDAQ, over the last 15 trading days, a sizeable rally is due. A “dead cat bounce” would actually be healthy for the longer-term bear case, as it would relieve the deeply oversold technical condition of the markets.
Stay tuned as the battle of the SkyNet StockBots continues!