Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
As usual the fate of all mankind is based in the hands of the Federal Reserve and a paragraph or phrase here or there. At first the market* did not like the minutes and now it likes it. In 20 minutes it could not like it again. Near term this market remains oversold but wickedly volatile and a lot of damage has been done. But vicious short term bounces can happen at any moment when things are this oversold. There had not even been 4 days in a row down in 2013 until this current selloff.
* of course by “market” I mean mostly computers shooting “0”s and “1”s at each other 1000 times a second.
Disclosure Notice
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/index.php/the-fund/holdings
