June 08, 2006
Where did the buyers go
Who was buying stocks us this morning?
One continuing positive "tell" is how Google has held up today. Even with the China scare, the stock is now flat.
If I was aggressive, I would hammer the market here in to the close but am content and leaving for meetings.
The carnage in emerging markets is frightening. Korea is down 8 percent TODAY (kef), and Turkey which was in a raging bull market 3 month ago is down 50 percent since March (tkf).
I have no idea where countries like this bottom and if you own and trade them you are learning that just like stocks, they need to be treated carefully and with good money management.