Correction Is Under Way. We Are On FED Alert.

Wednesday, October 14, 2009

I have seen this before. Markets are beginning to sell off worried that the easy monetary policy is coming to an end sooner then expected.

I am carrying a bigger short line having added some shorts at 1022 and 1019. I have a first target at 1000 but I think we are going a lot lower then that.

Financials like Citigroup Inc.(Public, NYSE:C) and Wells Fargo & Company (Public, NYSE:WFC) are leading on the way down today.

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