The Dow hit a previous strong support which is one reason why the market sold of on Friday. The other reason is the Spain debt downgrade and the third reason is the long weekend.
The volume of the sell-off was lower than the previous buys. This signals that it is the traders who might be holding short positions now.
Look for more cheap buys.
I am now looking at MGM and MON. And I am waiting for the momentum of Sprint to run out before shorting that stock.
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