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I’ve been saying for 6 months in thread that some of you are going to get stuck in some horrible plays while you guess at stocks.
What's really alarming is the lack of stock participation and the damage underneath the surface. Only 28% of stocks in the Nasdaq are above their 200 day (long-term trend). You wouldn't think that looking looking at the Nasdaq Composite Index, which closed today at its 50 day. Mid-caps are breaking down. Small-caps are having a mini-meltdown. Even the Dow is breaking down.
Once again, I'm not saying this is going to lead to a crash or even a correction for the general market, but there is a lot of weakness and risk out there right now.
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