If you’re one of several readers we know who have skin in the stock market let us know what you’re thinking about today’s decline.
We moved out of several key sectors and went to cash, generally more because of an instinctive “something is going to happen” sentiment rather than any actual acumen.
Some of you (providing uncompensated advice in recent weeks) have suggested that U.S. equity markets are oversold and due for a rebound and, of course, everyone has maintained a watchful eye.
At least one local trader suggested an oversold rally is likely to show itself in the next few days. We’ll see. What do you guys think?