late sell off in us

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    This is two days in a row that the last 30 -60 minutes has seen a major selloff on the NYSE. The DOW was hovering for most of the day, but if it wasn't for Kodak the index would have been a lot higher. For most of the day, there was only about 6 DOW stocks (excluding EK) that were travelling in the red, and these were down under 1%.

    I realise it is the end of the quarter and profit takers can be expected with the recent rises but the selloff has been way overdone.

    It is almost as if the psychology of the nervous trader has taken over and because September is traditionally a losing month, people are not game enough to hold even overnight. If the DOW opens stronger again on Friday, as it has the last two days, I believe we can ignore this weeks trading, and most likely next weeks (if the pattern continues), and put it all down to gutless fund managers that really have no idea of what is going on with the US economy.

    Looks like quite a few buying oportunitues coming up over the next week although a major selloff in AUS today, as no one will be holding over the weekend.
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